Examlex

Solved

ASE-Style Multiple Choice Which of the Following Statements Is LEAST-Likely

question 13

Multiple Choice

ASE-Style Multiple Choice Which of the following statements is LEAST-Likely true?


Definitions:

Alters

In legal or general context, to change or modify something, such as a document, condition, or situation.

Holder In Due Course

A legal term for an individual or entity that has acquired a negotiable instrument in good faith and for value, and therefore has certain rights above the original payee.

Negotiates

The process by which parties come together to try and reach an agreement on a matter, often involving discussion and compromise.

Fictitious Payee Rule

A legal principle that holds a drawer of a check responsible when funds are obtained by fraud, if the drawer fails to exercise caution in issuing the check.

Related Questions