Reference no: EM13257088
1. Billy Bob repays his debt, incurred to buy consumer goods, to Appliance Finance Bank and immediately files a written request for a termination statement. Appliance Finance
A. Must comply within one month of receipt of the request.
B. Must comply within twenty days of the receipt of the request.
C. Is not required to comply with the request unless the debt amount was over $1,000
D. Is not required to comply with the request
2. Billy Bob, for good faith and for value, receives from Ace a check "payable to the order of Bearer". Billy Bob doesn't know that Ace stole the check from Deuce. Billy Bob is
A. A holder in due course.
B. Not an HDC because the check was stolen.
C. Not HDC because the check was a bearer instrument
D. Not an HDC because the check was a bearer instrument which prevents the transferee from obtaining holder in due course status.
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