All Parties Are Discharged from Liability on a Negotiable Instrument

question 67

Multiple Choice

All parties are discharged from liability on a negotiable instrument when ________.

• A) the instrument is presented for payment
• B) the signature of the indorser is intentionally struck out
• C) the instrument is accidentally destroyed or mutilated
• D) a drawee in good faith pays an unaccepted instrument in full to the holder

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Definitions:

Food, Conservation, and Energy Act

A comprehensive farm bill passed by the U.S. Congress in 2008 that aimed to provide funding for agricultural programs, renewable energy, conservation, and food assistance.

Farm Subsidies

Financial aid and support provided by the government to farmers and agribusinesses to supplement their income and manage the supply of agricultural commodities.

Direct Payments

Payments made directly by the government to farmers, individuals, or businesses not requiring the provision of goods or services in return.

Countercyclical Payments

Government payments made to individuals or firms during times of economic downturns to offset decreases in demand and stabilize the economy.