A Blank Indorsement Turns A(n) __________Instrument into A(n) __________ Instrument

question 37

Multiple Choice

A blank indorsement turns a(n) __________instrument into a(n) __________ instrument.

• A) negotiable; non-negotiable
• B) non-negotiable; negotiable
• C) bearer; order
• D) order; bearer

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Definitions:

Counteroffer

A proposal made in response to an initial offer, containing different terms that must be accepted for a contract to be legally binding.

Merchant

An individual or business entity engaged in the buying and selling of goods for profit, typically possessing specialized knowledge in the goods traded.

Article 2

A specific section of the Uniform Commercial Code (UCC) that governs the sale of goods in the United States.

Option Contract

A contract giving the buyer the right, but not the obligation, to buy or sell an asset at a specified price within a specific time frame.