At 1AM,On the Sidewalk in Front of Ace Credit Corporation,which Is

question 19

Multiple Choice

At 1A.m.,on the sidewalk in front of Ace Credit Corporation,which is closed,Ben buys a $500 promissory note for $50 from Curt.When pre-sented with Ben's demand for payment,Diann,the maker of the note,could successfully claim that Ben

• A)acquired the note with notice that it was overdue.
• B)did not acquire the instrument in good faith.
• C)did not give value for the instrument.
• D)none of the choices.

---

Definitions:

Implied Covenant

An implied covenant refers to unstated obligations in a contract that are assumed to exist in order to ensure fairness and the fulfillment of the contract's purpose.

Good Faith

Honesty in fact.

Employment-at-will Doctrine

A legal principle stating that an employment relationship can be terminated at any time by either the employer or the employee, for any reason not prohibited by law.

Family and Medical Leave Act

U.S. legislation that grants eligible employees the right to take unpaid, job-protected leave for specified family and medical reasons.