Ira Serves in a Representative Capacity for Jett

question 72

Multiple Choice

Ira serves in a representative capacity for Jett. Key is injured through Ira's negligence. Jett may be liable to Key if Ira's conduct occurred

• A) due to a propensity Jett was not and could not have been aware of.
• B) during normal working hours.
• C) in the course and scope of Ira's employment.
• D) outside the parties' employment relationship.

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Definitions:

Negotiability

The characteristic of a financial instrument that allows it to be transferred from one party to another in a form of exchange.

Holder in Due Course

A term referring to a party who has acquired a negotiable instrument in good faith and for value, and thus has certain protections.

Marketability

The ease with which an asset or security can be sold or bought in the market without affecting its price.

Commercial Utility

The usefulness or value that a product or service provides in a commercial setting, often measured by its ability to meet the needs of a business or consumer market.