Question

The transfer of a tenant's ENTIRE interest in leased property to another is known as:

	a.	a sublease
	b.	a delegation
	c.	a right of entry
	d.	an assignment

Basil has a personal check certified by Citibank. If the named payee presents the check for payment and Citibank dishonors it then Basil will:

	a.	remain primarily liable
	b.	remain secondarily liable
	c.	no longer be liable since the check was certified
	d.	none of the above

If Joe writes a check to Ralph, who indorses it to Al, who indorses it to Kevin , who presents it to the bank where it is dishonored:

	a.	Kevin may recover from Joe
	b.	Kevin may recover from the bank
	c.	Both a and b are true
	d.	Neither a nor b are true.

If the treasurer of a company strts cashing forged checks over a thirteen month period before it is discovered, who will bear liability between the company and the bank?

	a.	The company because the bank has a signature card on file
	b.	The company because the bank has FDIC insurance.
	c.	The bank since the time period before discovery indicates the company's negligence
	d.	(a) and (b)

The right of the government to take private land for public use is known as:

	a.	possibility of reverter
	b.	adverse possession
	c.	equitable servitude
	d.	eminent domain

Answer 1

1.The transfer of a tenant's entire interest in leased property to another is known as an assignment.

2.Basil has a personal check certified by Citibank. If the named payee presents the check for payment and Citibank dishonors it then Basil will remain secondary liable

3.Neither a nor b are true

4. If the treasurer of a company strts cashing forged checks over a thirteen month period before it is discovered, who will bear liability between the company and the bank :

The bank since the time period before discovery indicates the company's negligence

When the bank has made an error in cashing a check with a forgery, the bank is completely liable.When a cheque has forged signature,the bank doesn't have a right to make payment against such cheque.

5. The right of the government to take private land for public use is known as Eminent domain.