Instrument will be considered indefinite and non-negotiable

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Reference no: EM132264835

1. An instrument will be considered indefinite and non-negotiable if it is to be paid:

A. With interest.

B. In annual installment payments.

C. Subject to collection fees if payment is not made.

D. Subject to an event occurring in the future.

2. An order getter is

A. a salesperson who specializes in identifying, analyzing, and solving customer problems, but who does not actually sell products and services.

B. salesperson who processes routine orders or reorders for products that are presold by the company.

C. salesperson who identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on a customer's use of a product or service.

D. person on the selling team who is responsible for obtaining qualified leads.

E. member of the sales support team who does not directly solicit orders but rather concentrates on performing promotional activities and introducing new products.

3. Commercial Paper creates obligations which are designed to do all of the following, except:

A. Move freely and efficiently in financial transactions.

B. Act as a substitute to money.

C. Eliminate the need for written contractual obligations.

D. Represent a credit transaction.

4. Real defenses:

A. May be asserted against anyone, except a holder in due course.

B. May be asserted against anyone, including a holder in due course.

C. May only be asserted against banks and other financial institutions.

D. Are no longer recognized as valid under the Uniform Commercial Code.

5. A payor bank which pays on a forged instrument has ______ rights when seeking to recover the payment than does the payor who pays on a forged drawer's signature.

A. Greater.

B. Lesser.

C. Identical.

D. Secondary.

Reference no: EM132264835

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