Chapter 19

Question 1

What type of endorsement is the signature of a person as a drawer?

Answer 1

Not an endorsement

Question 2

What type of endorsement guarantees payment of the instrument?

Answer 2

Unqualified endorsement.

Question 3

What type of endorsement is made by the person who is not the holder?

Answer 3

Anomalous endorsement

Question 4

What type of endorsement when the rights of the endorsee are subject to the happening or non-happening of a specified event?

Answer 4

Conditional endorsement

Question 5

What type of endorsement identifies the person to whom the instrument is payable?

Answer 5

Special endorsement

Question 6

What type of endorsement forces the instrument into the banking system?

Answer 6

Endorsement for deposit or collection

Question 7

What type of endorsement disclaims or limits contractual liability on the instrument?

Answer 7

Qualified endorsement

Question 8

What type of endorsement consists of merely the signature of the endorser or her agent?

Answer 8

Blank endorsement

Question 9

What type of endorsement restricts or further limits the negotiation of the instrument?

Answer 9

Restrictive endorsement

Question 10

What is the acronym for bankruptcy priorities, and what does it stand for?

Answer 10

SAG - WEG - CTI
S - Support to spouse and children
A - Admin expenses for trustee and estate
G - Gap claims

W - Wages up to $12,475
E - Employee benefit plan within 180 days
G - Grain farmers up to $6,150

C - Consumer deposits up to $2,775
T - Tax claims
I - Injury claims by DWI