When a Party Signs a Negotiable Instrument Without Knowing That

question 82

True/False

When a party signs a negotiable instrument without knowing that it is in fact a negotiable instrument,the party can claim fraud in the exactum.

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Definitions:

Binding Price Floor

A minimum price set by the government or body above the equilibrium price, leading to excess supply if the market cannot legally adjust to its equilibrium.

Sellers

Market participants involved in providing goods or services for purchase, playing a key role in the supply side of the economy.

Equilibrium Price

The market price at which the quantity demanded equals the quantity supplied, leading to a stable market condition.

Price Floor

A government- or authority-set minimum price for a particular good or service, designed to protect producers.