The Circulation of a Negotiable Instrument Begins When the Maker

question 19

Short Answer

The circulation of a negotiable instrument begins when the maker or the drawer issues an instrument to the ____________________.

Identify and explain the legal doctrine of promissory estoppel and its application.

Differentiate between liquidated and unliquidated debts and their implications on accord and satisfaction.

Recognize exceptions to the rule requiring consideration, including promissory estoppel and modifications under the UCC.

Distinguish between bilateral and unilateral contracts and their respective considerations.

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Definitions:

Molecular Formula

A representation of the number and type of atoms in a molecule without indicating how they are bonded together.

Cis-trans Isomers

Stereoisomers that have the same molecular formula and sequence of bonded atoms but differ in the orientation of groups about a double bond.

Constitutional Isomers

Compounds that have the same molecular formula but differ in the sequence of bonding of their atoms.

Isomeric

Pertains to molecules that have the same molecular formula but different structures.