Author Question: A & D, Inc wrote a negotiable note payable to Vicy, Inc for the purchase of some satellite ... (Read 222 times)

leilurhhh · **on:** Jun 24, 2018

A & D, Inc wrote a negotiable note payable to Vicy, Inc for the purchase of some satellite receivers. A & D left the amount of the note blank because it was uncertain as to amount of the applicable tax. Vicy completed the note for 3,000 more than A & D actually owed for the receivers it purchased. The note was negotiated to a holder in due course. A & D will not have to honor the note as this constituted fraud in the execution.
Indicate whether the statement is true or false

Question 2

The documentary letter of credit transaction serves as a means to assure the buyer and seller that the transaction is secured.
Indicate whether the statement is true or false