Questions from Business Law


Q: Distinguish between voluntary filing and involuntary filing in bankruptcy.

Distinguish between voluntary filing and involuntary filing in bankruptcy.

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Q: Distinguish between the two basic kinds of commercial paper: promises to

Distinguish between the two basic kinds of commercial paper: promises to pay (notes) and orders to pay (checks and drafts).

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Q: Identify the parties to commercial paper.

Identify the parties to commercial paper.

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Q: List and explain the nonessentials for negotiability of commercial paper.

List and explain the nonessentials for negotiability of commercial paper.

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Q: Forrer was an employee of Sears for many years. He eventually

Forrer was an employee of Sears for many years. He eventually left because of health problems and began operating a farm. Sears persuaded Forrer to return to work on a part-time basis, and about one m...

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Q: Identify the purpose of endorsing commercial paper.

Identify the purpose of endorsing commercial paper.

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Q: Explain when presentment of commercial paper occurs.

Explain when presentment of commercial paper occurs.

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Q: Describe when commercial paper is deemed dishonored.

Describe when commercial paper is deemed dishonored.

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Q: Distinguish between real and personal property.

Distinguish between real and personal property.

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Q: Define and explain the purpose of a bailment.

Define and explain the purpose of a bailment.

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