A Person Cannot Be Held Liable, Even by a Holder

question 36

Multiple Choice

A person cannot be held liable, even by a holder in due course, if he or she signs an instrument that is apparently not negotiable and the paper is later fraudulently converted into a(n) :

• A) statutory contract.
• B) specialty contract.
• C) arbitration agreement.
• D) negotiable instrument.

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Definitions:

Groundwater

Soil water and water in aquifers.

Aquifers

Underground layers of water-bearing permeable rock, rock fractures, or unconsolidated materials from which groundwater can be extracted using a water well.

Lakes

Large bodies of water surrounded by land, freshwater or sometimes saline, that are inland and not part of the ocean.

Rivers

Large natural streams of water flowing in channels to the sea, a lake, or another river.