1. Generally, Edith signs her name using the symbol:,Edith signed an instrument using this symbol.Which statement is correct

a.The instrument is not negotiable becauseEdith's legal namedoes not appear on it.

b.The instrument is not negotiable because Edith's given name does not appear on it.

c.The instrument is not negotiable because Edith did not sign using letters of the alphabet.

d.The instrument is negotiable because Edith intended the symbol to be her signature.

1. Joe is a maintenance man forRex Realty,Inc.While emptying trash one day, he sees a "For Sale" sign on a piece of property that he thinks Rex will want.In order to prevent others from bidding up the price of the property, Joe immediately makes an offer for the full price in the name of Rex Realty.Which of the following statements is true?

a.Rex is under no obligation to purchase the property.

b.Joe had no authority to purchase property under the name of "Rex Realty".

c.Rex can ratify Joe's action and purchase the property.

d.All of the above are true.

1. A voluntary petition filed under the liquidation provisions of Chapter 7 of the federal Bankruptcy Code:

a.doesnotrequire the debtor to show that the debtor's liabilities exceed the fair market value of assets

b.is not available to a corporation unless it has previously filed a petition under the reorganization provisions of Chapter 11

c.automatically stays collection against the debtorexceptby secured creditors

d.will be dismissed unless the debtor has 12or more unsecured creditors whose claims total at least $5000