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Author Question: _____ is a unilateral act of a holder of an instrument, usually without consideration, whereby the ... (Read 33 times)

Lobcity

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on: Jun 24, 2018
_____ is a unilateral act of a holder of an instrument, usually without consideration, whereby the holder gives up rights on the instrument.
 A) Refutation
 B) Cancellation
 C) Repudiation
 D)Renunciation

Question 2

Jeff purchased in good faith a warehouse receipt for 1,000 pairs of running shoes without notice of any defense to it, for value, and in the regular course of his business. Unknown to Jeff, the goods had been stolen from Jane and delivered to the warehouse that issued the receipt purchased by Jeff. Which of the following statements is true?
 A) Jeff holds a duly negotiated document of title and is not subject to Jane's title.
 B) Jane is entitled to the goods and will prevail over Jeff.
 C) Jeff is not a holder of a duly negotiated document.
 D) Jane cannot recover the goods but can sue the warehouse for conversion.


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tjayeee

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

B


Lobcity

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Reply #2 on: Jun 24, 2018
Correct answers!


tjayeee

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Reply #3 on: Jun 24, 2018
Great! Please up vote :D


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