Questions from Business Law


Q: What is the public policy behind the fictitious payee rule?

What is the public policy behind the fictitious payee rule?

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Q: When the rights under a contract are assigned, what happens to

When the rights under a contract are assigned, what happens to the rights of the assignor?

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Q: Who assumes the burden of loss when there is a forged or

Who assumes the burden of loss when there is a forged or unauthorized indorsement?

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Q: What is a material alteration of a financial instrument?

What is a material alteration of a financial instrument?

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Q: What are the ways in which an instrument may be discharged?

What are the ways in which an instrument may be discharged?

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Q: What is a check?

What is a check?

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Q: 1. Should only banks and regulated financial institutions be allowed to

1. Should only banks and regulated financial institutions be allowed to issue ATM cards? 2. How might the government regulate digital funds to reduce the potential for cyberlaundering?

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Q: What is an overdraft?

What is an overdraft?

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Q: When does a check become stale under the UCC?

When does a check become stale under the UCC?

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Q: Who has the right to order that payment on a check be

Who has the right to order that payment on a check be stopped?

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