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Wayne issues a note payable to Molly. Molly indorses the note in blank on the back and gives it to Jerry. Which of the following statements correctly describes the status of this instrument?

The endorsement on the back of the check:

The following information pertains to questions 41-43. Mary agreed to buy Ben’s textbook for $50, but she doesn’t have any cash and she needs the money in her checking account to pay her bills. So, Mary signs her name on the back of a check in the amount of $50 that she received as a gift from her grandmother and gives it to Ben in exchange for the textbook.

Which type of indorsement has no instructions or conditions attached to the payment of the funds represented by the instrument?

19.  Read the following passage. Then choose which statement is most logically supported by the information.  The goal of our lives must be to reach out in kindness, love, and care.  We must change the world by our relationships with other people- that will be our immortality.  We will not be remembered for job or financial success.  There is no gravestone that say, “Effective CEO” or “A Multimillionaire.”  Hopefully our grave will have words such as “Loving father” or Devoted daughter” or “Caring husband” or “Beloved sister.”

A note that is payable to Carmen, if she graduates from the MAcc program with at least at 3.0 is

Stephanie took a check that was made payable to the order of Karla, her roommate, from the coffee table in their living room and wrote pay to Stephanie on the back of the check and forged Karla’s signature beneath. Stephanie then presented the check for payment at her bank. What is the result if the check is paid over the forged indorsement?

The endorsement on the back of the check:

Michael draws a check on RegionsBank “payable to the order of Stephen.” When Stephen presents the check for payment, RegionsBank refuses to pay it. Stephen can collect the amount of the check from Michael because Michael is the:

14. Read the following passage from an essay on culture by American anthropologist Clyde Kluckhohn (1905–1960). Then choose which statement is most logically supported by the information.  promiscuous: active sexually and relatively unselective about sexual partners celibacy:          going without sexual activity reciprocities: exchanges Every culture must deal with the sexual instinct.  Some, however, seek to deny all sexual expression before marriage, whereas a Polynesian adolescent who was not promiscuous° would be distinctly abnormal.  Some cultures enforce lifelong monogamy, while others, like our own, tolerate serial monogamy; in still other cultures, two or more women may be joined to one man or several men to a single woman.  Homosexuality has been a permitted pattern in the Greco-Roman world, in parts of Islam, and in various primitive tribes.  Large portions of the population of Tibet, and of Christendom at some places and periods, have practiced complete celibacy°.  To us marriage is first and foremost an arrangement between two individuals.  In many more societies marriage is merely one facet of a complicated set of reciprocities°, economic and otherwise, between two families or two clans.