Question: If there is no general contract liability on an instrument, then an unpaid holder may resort to a lawsuit based on warranties implied by law.

If there is no general contract liability on an instrument, then an unpaid holder may resort to a lawsuit based on warranties implied by law.
Which of the following is not a warranty implied by law, relating to the transfer of negotiable instruments?
Merchantability
Alteration
Defenses
Enforcement

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:

On January 4 2021, Runyan Bakery paid $328 million for 10 million shares of Lovery Labeling Company common stock. The investment represents a 30% Interest in the net assets of Lavery and gave Runyan...

Q:

Please solve the mutiple-choice questions in the word doc. INTRODUCTION: Commercial Paper & Agency Commercial Paper Commercial paper (under the category of negotiable instruments) is a document...

Q:

Please solve the mutiple-choice questions in the word doc. INTRODUCTION: Commercial Paper & Agency Commercial Paper Commercial paper (under the category of negotiable instruments) is a document...

Q:

Due Tonight! Really appreciate it! Can I please have this Chapter Outline, { the main points }. Book is called Legal Concepts in Sport by Linda Jean Carpenter. As a reference I uploaded all the pages...

Q:

1 1. Which of the following is a FALSE statement? A. The entrepreneur whose business does not commence due to another party's breach of contract can sue and recover for lost profits if the...

Q:

Researching changing consumer needs and desires for airline travel is a key aspect of American Airlines' business plan. Which of the following HR planning activities BEST supports this practice?...

Q:

American airlines case Researching changing consumer needs and desires for airline travel is a key aspect of American Airlines' business plan. Which of the following HR planning activities BEST...

Q:

FAA APARTMENT LEASE CONTRACT NAA NATIONAL APARTMENT ASSOCIATION Date of Lease Contract: (when the Lease Contract is filled out) This is a binding document. Read carefully before signing. Moving In -...

Q:

Please help solve this finance case: PROMISSORY NOTE Princpa Lotn Date turity $3,538 188.62 0915-2003 104 05-2009 oen No Cal Ecol countOfficer nitias 15920 References in the boxes ebove are for...

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:

Do the reading assignment and then look up KRS 275.520 and read its text.Then answer the questions below. Fully explain your answers: 1.What is the taxation advantage of a LLC as opposed to a...

Q:

An investor is contemplating an investment with a retum of R, where: R=300,000-500,000 where U is a uniform [0, 1] random variable. Calculate each of the following four measures of risk: (a) variance...

Q:

Write a brief paper on Psychoanalytic Therapy in which you have to address the following: You will be required to find current research (within the past 5 years) for psychoanalytic theory. You will...

Q:

Dean Hardware, Incorporated is comprised of five operating segments. Information about each of these segments is as follows (in thousands): Rakes Pails Shovels Hardware Accessories Sales to outsiders...

Q:

Assume it is Monday, May 1, the first business day of the month, and you have just been hired as the accountant for Colo Company, which operates with monthly accounting periods. All of the companys...