Alterations and Incomplete instruments Flashcards
1
Q
An alteration is
A
The unauthorized modification of an instrument
2
Q
The obligor is discharged on the terms of the altered instrument but
A
A payee, drawee, HDC may enforce rights according the original terms of the instrument before the alteration
3
Q
An incomplete instrument is
A
Enforceable (if name of payee is left of its just a bearer instrument
