Identify the defenses that can be used against a holder in due course and those defenses that cannot be used against a holder in due course
Real defenses are those that can be used to avoid payment to all holders, including holders in due course. Real defenses include: (a) infancy, to the extent that it is a defense to a simple contract; (b) any other incapacity, duress, or illegality of the transaction that renders the obligation void; (c) fraud in the execution; (d) discharge in insolvency proceedings; (e) any other discharge of which the holder has notice when he takes the instrument; (f) unauthorized signature; and (g) fraudulent alteration. Personal defenses are available against holders other than holders in due course. Personal defenses include: (a) lack of consideration; (b) failure of consideration; (c) breach of contract; (d) fraud in the inducement; (e) illegality that does not render a transaction void; (f) duress, undue influence, mistake, misrepresentation, or incapacity that does not render the transaction void; (g) setoff or counterclaim; (h) discharge of which the holder in due course does not have notice; (i) nondelivery of an instrument; (j) unauthorized completion of an incomplete instrument; (k) payment without obtaining surrender of the instrument; (l) theft of a bearer instrument or of an instrument payable to him; and (m) lack of authority of a corporate officer, agent, or partner as to the particular instrument, where such officer, agent, or partner had general authority to issue negotiable paper for his principal or firm.
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A) failure to differentiate customer profiles B) firms did not understand customers C) a focus on technology rather than people D) a focus on sales rather than enhancing relationships with customers
A good starting point for Barney in improving his interpersonal skills would be to
A) simply avoid talking to customers as much as possible. B) explain to his boss that some of the statements he is making are defamatory. C) get as much specific feedback as possible about his alleged interactions with customers. D) make up a statement of universal training needs for himself.
Rational buyers and sellers use their assessment of an asset's risk and return to determine its value. Relative to this concept, which of the following is true?
A) To a buyer the asset's value represents the minimum price that he or she would pay to acquire it. B) To a seller the asset's value represents the maximum sale price. C) To a buyer the asset's value represents the maximum price that he or she would pay to acquire it. D) To a seller the asset's value represents the price at which he acquired the asset.
How were Bausch & Lomb sales affected by its product recall in 2005?
a. Its sales were not affected b. Sales dropped 28 percent c. Sales dropped 78 percent d. None of the above