If a Negotiable Order Instrument Is Transferred to Another Party

question 45

Multiple Choice

If a negotiable order instrument is transferred to another party without an endorsement, the instrument has been:

• A) assigned.
• B) negotiated.
• C) obtained by fraud, and is therefore invalid.
• D) obtained by fraud, but may be ratified.

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Definitions:

Table Datasheet

A view in database applications that displays data in rows and columns, similar to a spreadsheet, allowing for data entry and editing.

Property Sheet

A tool in development environments that lists the properties of a selected object and allows the user to edit those properties.

Decimal Places

The number of digits allowed to the right of the decimal point in a numeric field, affecting the precision of the values stored.

Datasheet

A tabular representation of data, typically found in spreadsheet or database software, that organizes elements of data in rows and columns.