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:

Married Couples

Two individuals legally united in marriage, recognized for various legal, social, or tax purposes.

Filing Jointly

Filing jointly refers to a tax filing status that allows married couples to combine their income and deductions on a single tax return, potentially leading to tax benefits.

Net Book Value

The value of an asset or liability according to a company's balance sheet, deducting depreciation or amortization.

Accumulated Depreciation

Accumulated depreciation is the total amount of depreciation expense that has been recorded against a fixed asset over its useful life to date.