Muni Investment Company Signs a Check Payable to Notes

question 11

Multiple Choice

Muni Investment Company signs a check payable to Notes & Loans Inc. to buy a promissory note executed by Omni Corporation. This check

• A)does not constitute sufficient consideration for HDC status.
• B)does not satisfy the value requirement for HDC status.
• C)satisfies the consideration requirement for HDC status.
• D)satisfies the value requirement for HDC status.

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Definitions:

Method Of Elimination

A technique for solving a system of linear equations by removing variables to solve for another.

Grey Line

A phenomenon in radio communications where enhanced propagation conditions occur at dawn and dusk along the terminator line.

Linear Equations

Equations where the highest exponent of the variable(s) is one, resulting in a straight line when graphed.

Method Of Elimination

A technique for solving systems of equations by eliminating variables to solve for the others.