Fact Pattern 16-1 Nina Obtains a Check Payable to Her Order from Oran

question 41

Multiple Choice

Fact Pattern 16-1
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 16-1.After Patricia writes "Pay to Patricia" above Nina's signature, further negotiation of the check​

• A) ​requires Nina's re-indorsement and delivery.
• B) ​requires delivery alone.
• C) ​requires Patricia's indorsement and delivery.
• D) ​is not possible.

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Definitions:

Contingent Consideration

An obligation of a buyer to transfer additional assets or equity interests to the seller if future events occur or conditions are met after a business combination.

Bargain Purchase

A transaction where an asset is purchased or acquired for significantly less than its estimated fair market value.

Indirect Costs

Expenses that are not directly traceable to a specific product or service but are necessary for the business's general operation.

Investment Account

An account held at a financial institution, brokerage, or investment firm that holds securities, cash, and other assets for investment purposes.