Negotiation Flashcards Preview

A Wiley Review Notes REG > Negotiation > Flashcards

Flashcards in Negotiation Deck (7)
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1
Q

A Blank endorsement

A

does not specify any endorsee

2
Q

A Qualified endorsement

A

Endorser disclaims liability to pay the holder or any subsequent endorser if it is later dishonored.

3
Q

An example of qualified endorsement

A

when endorser puts into words “without recourse” on back of instrument

4
Q

Special endorsement

A

endorser indicates a specific person who needs to endorse it.

5
Q

An example of a Restrictive endorsement

A

uses the words “For Deposit Only”

6
Q

Difference between Negotiating bearer paper vs Negotiating order paper

A

Bearer paper = Delivery only
Order paper = Delivery and Endorsement by transferor

Delivery = holder get possession of instrument

7
Q

What are the requirements of Holder in Due course?

A

Holder of negotiable note
Gave value
Took in good faith
had no notice of breach or other problems

Decks in A Wiley Review Notes REG Class (99):