Question: According to the Uniform Commercial Code ( UCC ) , if an agent enters a contract that is a negotiable instrument, the principal cannot be

According to the Uniform Commercial Code (UCC), if an agent enters a contract that is a negotiable instrument, the principal cannot be held liable unless the principals name is on the instrument or the agents signature indicates that it was made in ________blank.
Group of answer choices
the presence of the disclosed or undisclosed principal
a bank or other financial institution that is prepared to accept the negotiable instrument
a representative capacity
the presence of a notary
connection with an auxiliary promise to the contract

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

According to the Uniform Commercial Code ( UCC ) , if an agent enters a contract that is a negotiable instrument, the principal cannot be held liable unless the principal s name is on the instrument...

Q:

According to the Uniform Commercial Code ( UCC ) , if an agent enters a contract that is a negotiable instrument, the principal cannot be held liable unless the principal's name is on the instrument...

Q:

1, According to the Uniform Commercial Code (UCC or Code), an oral contract for the sale of goods will not be enforceable if the total value of those goods is: A. More than $100. B. More than $500....

Q:

Which of the following is true under the Uniform Commercial Code ( UCC ) regarding the liability of a principal to an agent if the agent enters into a contract that is a negotiable instrument? Group...

Q:

Administrative Law 5 A dministrative law governs and defines the powers of government agencies. A number of political and technological factors have led to an explosion in the growth of government...

Q:

Chapter 10 from Business Law and the Legal Environment was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as requested...

Q:

Commercial Impracticability covers those sets of circumstances where performance is literally possible but is so radically different from that contemplated by the parties as to become impracticable....

Q:

We granted certiorari in this case to address an issue of first impression in Colorado regarding whether under [UCC] 1-201(b)(20) and [UCC] 3-302, C.R.S. (2007), Colorados codification of the...

Q:

Chapter 6 from The Legal and Ethical Environment of Business was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 license without attribution as...

Q:

1. Do you agree or disagree with the decision in the Lambert case (p. 323, textbook). Explain by making EXPLICIT reference to any of the principles of Contract Law (say which one(s) you are using)...

Q:

In deciding where to invest her retirement fund, an investor recorded the weekly returns of two portfolios for 1 year. Can we conclude that portfolio 2 is riskier than portfolio 1?

Q:

Explain why the test charges we use when measuring electric fields must be small.

Q:

Fill out the Financial Ratios with Amazon as a company. Current Year, Previous Year, 2 Years Ago, 3 Years Ago, 4 Years Ago Price - to - Earnigs ( P / E ) Ratio Return on Equity ( ROE ) Debt - to -...

Q:

The annual demand for an item is 1,700 units. The order cost is $7. Unit cost is $8 and the unit holding cost per year is 18% of the item's value. The order quantity is 125 units. What are the total...