Lamar Carler writes a cheque for $10,000 to Leonard Wilkens for renovation work. Lamar endorses the reverse side of the cheque "not negotiable." Leonard endorses the cheque to the bank as payment for his loan
The renovation work is defective and costs $5,000 to repair.The bank had no notice of the defective work. Lamar refuses to pay the bank on the cheque. Which of the following is TRUE?
A) The bank was a holder in due course and can seek payment in full from Lamar.
B) The bank was not entitled to cash the cheque because there was a restriction on its negotiability
C) The bank was a holder in due course without notice
D) Lamar and Leonard are jointly liable as both signed on the cheque
E) Lamar cannot set off the costs of repair against the bank
B
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a. Formality b. Familiarity c. Warmth d. Privacy
The Federal Trade Commission requires franchisors to
A. give prospective franchisees a franchise disclosure document at least 14 business days prior to the signing of a contract or payment of any money. B. give prospective franchisees earnings information on the company. C. disclose any litigation the company has ever been involved in. D. let prospective franchisees know how many franchisees have gone out of business in the prior five years.
Speeches to persuade can take all of the following directions EXCEPT
a. adopt a new way of thinking. b. present facts about a way of thinking. c. sustain a way of thinking. d. extinguish a way of thinking.
Companies may match employee contributions to a 401(k) with cash or company stock.
Answer the following statement true (T) or false (F)