In the context of instruments that are merely promises to pay, which of the following has primary liability?
A) the person in physical possession of the instrument
B) the drawer of the instrument
C) the drawee of the instrument
D) the payee of the instrument
B
You might also like to view...
Which cultural imperative becomes most salient in a time of war and acts of terrorism?
a. peace imperative b. economic imperative c. technological imperative d. ethical imperative
Under the Model Act, who has the right to call a special meeting of the shareholders to vote on an emergency issue that cannot wait until the next annual meeting?
a. Shareholders who own at least 10 percent of a company's stock. b. The board of directors. c. Both of the above. d. None of the above.
Suppose a firm's CFO thinks that an externality is present in a project, but that it cannot be quantified with any precision?estimates of its effect would really just be guesses. In this case, the externality should be ignored?i.e., not considered at all?because if it were considered it would make the analysis appear more precise than it really is.
Answer the following statement true (T) or false (F)
Rule 10b-5:
A) applies only to seller misconduct. B) is an SEC antifraud rule. C) applies only to securities listed on an exchange, not those sold over the counter. D) All of these.