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LAW3 Midterm Quiz 3

Total questions: 15

Worksheet time: 11mins

Name
Class
Date
1.

An instrument is negotiated when it is transferred from one person to another

a)

True

b)

False

2.

If payable to bearer, the negotiable instrument is negotiated by delivery

a)

True

b)

False

3.

If payable to order, the negotiable instrument is negotiated by delivery

a)

True

b)

False

4.

Which instrument is negotiated by mere delivery?

a)

Bearer

b)

Order

5.

Which instrument is negotiated by the indorsement of the holder and completed by delivery?

a)

Bearer

b)

Order

6.

The signature of the indorser, without additional words, is not a sufficient indorsement.

a)

True

b)

False

7.

Indorsement must always done by attaching indorser's signature on a blank, separate sheet of paper.

a)

True

b)

False

8.

Partial indorsement is allowed

a)

True

b)

False

9.

An indorsement that specifies the indorsee

a)

Blank

b)

Restrictive

c)

Special

d)

Qualified

e)

Conditional

10.

This indorsement prohibits further negotiation of the instrument

a)

Blank

b)

Restrictive

c)

Special

d)

Qualified

e)

Conditional

11.

The indorsement where the indorser is a mere assignor

a)

Blank

b)

Restrictive

c)

Special

d)

Qualified

e)

Conditional

12.

The indorsement where only the signature of the indorser is attached.

a)

Blank

b)

Restrictive

c)

Special

d)

Qualified

e)

Conditional

13.

A qualified indorsement may be converted into a special indorsement

a)

True

b)

False

14.

The term "without recourse" may be seen in which indorsement?

a)

Blank

b)

Restrictive

c)

Special

d)

Qualified

e)

Conditional

15.

A negotiation is not completed without delivery of the negotiable instrument

a)

True

b)

False