A Transfer of Order Paper

question 71

Multiple Choice

A transfer of order paper:

• A) gives the transferee the specifically enforceable right to have the unqualified indorsement of the transferor,whether the transfer was for value or not.
• B) to a bank,such as the deposit of a check,without an indorsement requires the bank to provide the customer's indorsement.
• C) not for value creates a presumption by the courts that the parties intended to negotiate rather than assign the paper.
• D) for value creates a presumption by the courts that a negotiation was intended by the parties unless the parties have agreed that the transfer is to be an assignment,which requires no indorsement.

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Definitions:

Submissively

In a manner that shows a readiness to conform to the authority or will of others, often without resistance.

Uncertainty Avoidance Culture

Cultures that exhibit a low tolerance for uncertainty and ambiguity, often relying on strict rules, regulations, and procedures to minimize the unpredictability of future events.

Individual Rights

The freedoms and legal entitlements allowed to each person in a society.

Short-Term Orientation

A perspective or approach focusing on immediate outcomes or benefits rather than long-term goals or implications.