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True or False Quiz
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1
An instatement is payable on demand if a holder demands payment.
A)True
B)False
2
In most states a check need not contain the words order or bearer to be negotiable.
A)True
B)False
3
When the date on a instrument is omitted, the date is considered to be the date of execution.
A)True
B)False
4
The historic name for a draft was bill of exchange.
A)True
B)False
5
The person to whom a note is payable is called the payor.
A)True
B)False
6
Acceptance occurs with as signature on the back of an instrument.
A)True
B)False
7
A cahier's check is drawn by the bank upon itself.
A)True
B)False
8
A valid signature on an instrument may appear in the body of the instrument.
A)True
B)False
9
An instrument payable in gold in not negotiable.
A)True
B)False
10
An instrument without a named payee is payable to order.
A)True
B)False





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