What is the duty of bank to pay depositors check

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Reference no: EM133935359

Questions

1. What are the three obligations of the maker of a promissory note?

2. What kind of a draft is a check?

3. How does a qualified acceptance impact the negotiability of an instrument?

4. What is the duty of a bank to pay a depositor's check?

5. Does a bank have liability if it refuses to pay a check, where there are sufficient funds on deposit?

6. Who are the original parties to a promissory note?

7. When there are multiple payees on an instrument, how does one know whether all are required to endorse it in order to negotiate, or if only one is required to endorse it?

8. What is an endorsement (also spelled indorsement)?

9. If a payee's name is misspelled on a check, what effect will that have on the negotiability of the check.

10. What conditions must be met for a party to be secondarily liable?

11. What are the two exceptions to the rule that an unauthorized signature does not bind the person whose name is used?

12. What is the subject-matter of a "consumer" transaction.

13. What are the three required conditions for a holder to be a holder-in-due-course?

Reference no: EM133935359

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