Which Statement Is True Regarding Negotiation of an Instrument

question 68

Multiple Choice

Which statement is true regarding negotiation of an instrument?

• A) Negotiation of both an order instrument and bearer instrument is by delivery alone.
• B) Negotiation of both an order instrument and bearer instrument require endorsement plus delivery.
• C) Negotiation of an order instrument is by endorsement plus delivery, while negotiation of a bearer instrument is by delivery alone.
• D) Negotiation of a bearer instrument is by endorsement plus delivery, while negotiation of an order instrument is by delivery alone.
• E) Negotiation of both an order instrument and a bearer instrument requires both delivery and an additional three days to allow for bank clearance.

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Definitions:

Discharged

In a legal or financial context, refers to being formally released from an obligation or debt.

Bankruptcy

A court case concerning an individual or company that cannot settle their due payments.

Undue Hardship

A situation where an accommodation (usually in the context of employment or education) would result in significant difficulty or expense in light of the circumstances.

Patient Protection

Measures and policies designed to ensure the safety, rights, and well-being of patients in healthcare settings.