Keyes Negotiates a Bearer Instrument to Liu by Delivery

question 18

Multiple Choice

Keyes negotiates a bearer instrument to Liu by delivery

• A)with an assignment of its rights under a contract.
• B)with any necessary indorsement.
• C)without more.
• D)with formal presentment in response to a demand by Liu.

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Definitions:

Negotiable Note

A financial instrument guaranteeing payment of a specific amount, which can be transferred among parties.

Cleverly Alters

Deliberately modifies or changes something in a skillful manner to achieve a specific purpose or effect.

Recourse

The right of an individual or entity to seek compensation or legal redress in the event of a breach of contract or other legal injury.

Negotiable

Describes items, like certain documents, that can be transferred from one party to another with the endorsement or delivery, retaining its value.