If,instead of Endorsing the Note to Tonya,Felicia Had Wanted to Demand

question 71

Multiple Choice

If,instead of endorsing the note to Tonya,Felicia had wanted to demand payment on the note from Branson,could Branson be held liable since he did not sign his name?

• A)Yes,the "X" could constitute a signature,but only if Branson also printed his name on the note.
• B)No,because the "X" does not constitute a signature because it does not identify the endorser.
• C)No,a signature is required to hold a party liable for a negotiable instrument.
• D)Yes,because the "X" Branson wrote on the instrument could constitute a signature if Branson used it with the intent to authenticate the instrument.
• E)No,public policy would not support holding a party liable for payment if that party did not actually sign the instrument.

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Definitions:

Expected Value

Is the predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.

Service Contract

A legally binding agreement between two or more parties where one agrees to provide a specified service to the other for a payment.

Peace of Mind

A state of mental and emotional tranquility, free from stress or worry.

Availability Heuristic

A cognitive shortcut based on the first examples that spring to mind when considering a particular topic, idea, strategy, or choice.