A Title Acquired from Someone Who Already Owns the Goods

question 53

Multiple Choice

A title acquired from someone who already owns the goods free and clear is known as a ________.

• A)Good title
• B)True title
• C)Substantiated title
• D)Examined title
• E)Voidable title

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Definitions:

Interest

The cost of borrowing money, typically expressed as an annual percentage rate, or the stake or share in an undertaking or project.

Order Paper

An official document listing the business or orders of the day for parliamentary or legislative bodies.

Indorsement

Writing on the back of an instrument; the contract whereby the holder of an instrument (such as a draft, check, or note) or a document (such as a warehouse receipt or bill of lading) transfers to another person his right to such instrument and incurs the liabilities incident to the transfer.

Negotiated

The process of discussing terms in order to reach a mutual agreement, often used in the context of contracts, salaries, and business deals.