Fact Pattern 26-1 Nina Obtains a Check Payable to Her Order from Oran

question 16

Multiple Choice

Fact Pattern 26-1
Nina obtains a check payable to her order from Oran. Nina signs the back and gives the check to Patricia. Patricia writes "Pay to Patricia" above Nina's signature.
-Refer to Fact Pattern 26-A1. When Patricia writes "Pay to Patricia" above Nina's signature, the check becomes​

• A) ​a bearer instrument.
• B) ​an order instrument.
• C) ​a promissory note.
• D) ​a stolen instrument.

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Definitions:

Elasticity

A measure of how much the demand or supply of a product changes in response to changes in price or other economic factors.

Dividend Payout

The portion of a company's earnings that is distributed to shareholders in the form of dividends, usually expressed as a percentage of the earnings.

Lower Volatility

Refers to the characteristic of an asset or portfolio to experience less fluctuation in price over time.

Intrinsic Value

The actual value of a company or asset based on underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors.