Which of the Following Is False with Respect to the Law

question 71

Multiple Choice

Which of the following is False with respect to the law of negotiable instruments?

• A) Negotiable instruments are controlled by provincial legislation.
• B) The Bills of Exchange Act is federal legislation.
• C) The Bills of Exchange Act governs the area of negotiable instruments.
• D) A holder in due course is in a better position than he would be as the receiver of contractual rights through assignment.
• E) A bill of exchange involves three parties.

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Definitions:

Headings

Short titles or captions used to identify sections of a document or to introduce topics.

Revenue Journal

An accounting journal dedicated to recording the sales of goods or services on credit, tracking revenue transactions separate from cash and other transactions.

Cell Phone Covers

Cell Phone Covers are protective and decorative accessories designed to encase and safeguard mobile phones.

Cash Payments Journal

An accounting journal used to record all cash payments made by a company, including expenses and purchases.