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B Law > Quiz 3 > Flashcards

Quiz 3 Flashcards

1
Q

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

A

Unconditional promise to pay to order or bearer

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2
Q

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

A

Pay on demand or specific time

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3
Q

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

A

Sum certain (legal currency)

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4
Q

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

A

Writing

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5
Q

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

A

Signed

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6
Q

Real Defenses (1)

A

Bankruptcy

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7
Q

Real Defenses (2)

A

Forgery

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8
Q

Real Defenses (3)

A

Material alteration

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9
Q

Real Defenses (4)

A

Extreme mental incapacity

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10
Q

Real Defenses (5)

A

Fraud in the execution

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11
Q

Personal Defenses (1)

A

Breach of contract

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12
Q

Personal Defenses (2)

A

Failed consideration

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13
Q

Personal Defenses (3)

A

Fraud in the inducement

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14
Q

Personal Defenses (4)

A

Wrongful completion

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15
Q

Personal Defenses (5)

A

Duplicate payment

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16
Q

Endorsements (1)

17
Q

Endorsements (2)

A

Restrictive

18
Q

Endorsements (3)

19
Q

Endorsements (4)

20
Q

Endorsements (5)

21
Q

Transfer warranties (1)

A

All signatures are authentic

22
Q

Transfer warranties (2)

A

There are no material alterations

23
Q

Transfer warranties (3)

A

There is no knowledge of bankruptcy

24
Q

Transfer warranties (4)

A

There are no claims or defenses

25
Q

Transfer warranties (5)

A

Transferor can enforce the instrument

26
Q

UCC-3 5 requirements/criteria for negotiable instruments

A 
Unconditional promise to pay to order or bearer
Pay on demand or specific time
Sum certain (legal currency)
Writing
Signed
27
Q

Real Defenses

A 
Bankruptcy
Forgery
Material alteration
Extreme mental incapacity
Fraud in the execution
28
Q

Personal Defenses

A 
Breach of contract
Failed consideration
Fraud in the inducement
Wrongful completion
Duplicate payment
29
Q

Endorsements

A 
Blank
Restrictive
Special
Qualified
Combo
30
Q

Transfer warranties

A 
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

B Law (4 decks)

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