Quiz 3

Question 1

UCC-3 5 requirements/criteria for negotiable instruments (1)

Answer 1

Unconditional promise to pay to order or bearer

Question 2

UCC-3 5 requirements/criteria for negotiable instruments (2)

Answer 2

Pay on demand or specific time

Question 3

UCC-3 5 requirements/criteria for negotiable instruments (3)

Answer 3

Sum certain (legal currency)

Question 4

UCC-3 5 requirements/criteria for negotiable instruments (4)

Answer 4

Writing

Question 5

UCC-3 5 requirements/criteria for negotiable instruments (5)

Answer 5

Signed

Question 6

Real Defenses (1)

Answer 6

Bankruptcy

Question 7

Real Defenses (2)

Answer 7

Forgery

Question 8

Real Defenses (3)

Answer 8

Material alteration

Question 9

Real Defenses (4)

Answer 9

Extreme mental incapacity

Question 10

Real Defenses (5)

Answer 10

Fraud in the execution

Question 11

Personal Defenses (1)

Answer 11

Breach of contract

Question 12

Personal Defenses (2)

Answer 12

Failed consideration

Question 13

Personal Defenses (3)

Answer 13

Fraud in the inducement

Question 14

Personal Defenses (4)

Answer 14

Wrongful completion

Question 15

Personal Defenses (5)

Answer 15

Duplicate payment

Question 16

Endorsements (1)

Answer 16

Blank

Question 17

Endorsements (2)

Answer 17

Restrictive

Question 18

Endorsements (3)

Answer 18

Special

Question 19

Endorsements (4)

Answer 19

Qualified

Question 20

Endorsements (5)

Answer 20

Combo

Question 21

Transfer warranties (1)

Answer 21

All signatures are authentic

Question 22

Transfer warranties (2)

Answer 22

There are no material alterations

Question 23

Transfer warranties (3)

Answer 23

There is no knowledge of bankruptcy

Question 24

Transfer warranties (4)

Answer 24

There are no claims or defenses

Question 25

Transfer warranties (5)

Answer 25

Transferor can enforce the instrument

Question 26

UCC-3 5 requirements/criteria for negotiable instruments

Answer 26

``` Unconditional promise to pay to order or bearer Pay on demand or specific time Sum certain (legal currency) Writing Signed ```

Question 27

Real Defenses

Answer 27

``` Bankruptcy Forgery Material alteration Extreme mental incapacity Fraud in the execution ```

Question 28

Personal Defenses

Answer 28

``` Breach of contract Failed consideration Fraud in the inducement Wrongful completion Duplicate payment ```

Question 29

Endorsements

Answer 29

``` Blank Restrictive Special Qualified Combo ```

Question 30

Transfer warranties

Answer 30

``` All signatures are authentic There are no material alterations There is no knowledge of bankruptcy There are no claims or defenses Transferor can enforce the instrument ```