Examlex
As discussed in your textbook, the major characteristics of good schools include all but which of the following?
Value
Under the Code (except for negotiable instruments and bank collections), generally any consideration sufficient to support a simple contract.
Qualified Indorsement
An endorsement on a negotiable instrument that limits the liability of the endorser or specifies particular conditions for the endorsement's validity.
Liability
A legal responsibility or obligation, often involving financial compensation, that arises from actions or agreements.
Payable to Cash
A term indicating that a check or draft is to be paid to the bearer or holder, making it easily transferable.
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