According to the Principle of ________,The U

question 75

Multiple Choice

According to the principle of ________,the U.S.Constitution,federal laws enacted pursuant to it,and treaties are "the supreme Law of the Land."

• A)judicial activism
• B)separation of powers
• C)federalism
• D)federal supremacy

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Definitions:

Without Recourse

Refers to an agreement where the seller is not responsible for any issues that arise after the sale is completed, commonly used in bill of exchange and note transactions.

Endorse

To formally support, approve, or sign a document, often to authenticate its validity or to transfer rights or ownership.

Debt

A financial obligation owed by one party (the debtor) to another (the creditor), typically involving borrowed money that is expected to be paid back with interest.

Holder In Due Course

A legal term referring to a person who has acquired a negotiable instrument in good faith and for value, and thus has certain protections against defenses and claims that could be asserted against the original party.