According to the Fictitious Payee Rule, When the Instrument Is

question 52

True/False

According to the fictitious payee rule, when the instrument is issued in the name of a fictitious payee, the person purporting to be that payee can make an effective endorsement.

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Definitions:

Hammond Postulate

The Hammond postulate suggests that the transition state of a reaction resembles the structure of the closest stable species on the reaction path, either the products or the reactants.

Transition State

The highest-energy state during a chemical reaction where the reactants are transformed into products, representing the point of highest energy on a reaction coordinate.

Endothermic Reaction

A chemical reaction that absorbs heat from its surroundings.

Exothermic Reaction

A chemical reaction that releases heat energy to its surroundings.