If a Negotiable Instrument Is Endorsed to a Specific Person

question 4

Multiple Choice

If a negotiable instrument is endorsed to a specific person but never delivered to that person:

• A) the maker is guilty of fraud in the inducement.
• B) there is no negotiation because there has been no delivery.
• C) the instrument is canceled.
• D) the maker's obligation is automatically revoked.

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Definitions:

Southern Slavery

The institution of chattel slavery in the Southern United States, where people were owned as property and forced to work without pay.

Working Class Immigrants

Individuals who migrate from one country to another, typically seeking employment opportunities in manual labor or low-skilled positions.

Concept Of Democracy

The principle or system of governance where power is vested in the people who exercise it directly or through elected representatives.

Non-Slaveholders

Individuals in societies with slavery who do not own slaves, often farming or working class without the means or desire to own slaves.