A negotiable instrument may be payable in gold

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Reference no: EM131459124

1) Multi-Part Commercial Paper question - Answer ether True or False

a) A guarantor who signs an instrument and writes "payment guaranteed" on it is primarily liable on the instrument.

b) A negotiable instrument may be payable in gold.

c) A bearer instrument is negotiated by delivery alone.

d) Dishonor occurs when a maker fails to pay a note upon proper presentment.

e) Only a holder or his agent may discharge an indorse by cancellation.

f) The last indorsement on a draft determines whether the draft is an order or bearer instrument.

g) Presentment for payment of a note may be made to the maker of the note.

h) A note payable "upon the death of Joe Jones" is negotiable.

i) Presentment for payment of a note may only be made in person.

j) When a check is certified by a holder, all prior indorsers are discharged on the check.

Reference no: EM131459124

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