If a Negotiable Order Instrument Is Transferred to Another Party

question 16

Multiple Choice

If a negotiable order instrument is transferred to another party without an indorsement, the instrument has been:

• A) assigned.
• B) negotiated.
• C) obtained by fraud, and is therefore invalid.
• D) obtained by fraud, but may be ratified.

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Definitions:

Central Cities

The core urban area of a metropolitan region, often containing the major economic, political, and cultural institutions of that region.

Annexed Outlying Areas

Territories that have been formally incorporated into a country or state but lie outside its primary geographical boundaries.

Ku Klux Klan

A secret society in the southern U.S. that focuses on white supremacy, white nationalism, and anti-immigration, notorious for its violence against African Americans and other groups.

Anti-Immigrant

A stance or policy that opposes immigration, often characterized by hostility towards immigrants and efforts to restrict their entry into a country.