_____ Means Either That a Case Has Been Finally Decided

question 68

Multiple Choice

_____ means either that a case has been finally decided on appeal or that the time for appeal has expired and a cause of action finally determined by a competent court cannot be litigated by the parties in a new proceeding by the same court or in any other court.

• A) Voir dire
• B) Ratio decidendi
• C) Obiter dicta
• D) Res judicata
• E) Nolo contendere

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Definitions:

Dishonor

The refusal or inability to accept or pay a bill of exchange, promissory note, or other credit instrument when due.

Real Defenses

Legitimate legal defenses available in disputing the validity or enforceability of negotiable instruments.

Personal Defenses

Legal justifications or excuses that an individual can claim to defend against blame or legal liability.

Holders In Due Course

Individuals or entities that have acquired a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims that could be asserted against the prior holders.