1. The Triffin v. Somerset Valley Bank case is based on the _____.
shelter rule
imposter rule
dishonest employee rule
fictitious payee rule
general rule on forged indorsements
2. Which of the following stands true for personal defense?
Personal defense is good against a holder in due course.
Forgery is a personal defense to an action by a holder in due course.
A holder in due course is not subject to the obligor's personal defenses.
Fraud in the execution is a personal defense against any holder, including a holder in due course.
If the holder knows that a note has already been paid, she cannot enforce it. This is a personal defense.
3. New Cuisine Café files a suit in a state court against Olive Oil Inc., alleging a breach of contract. The case proceeds to trial, after which the court renders a verdict. If New Cuisine decides to appeal to a state appellate court, its attorney must file, with the clerk of the appellate court, within a prescribed period of time?
a. an explanation for the verdict.
b. a brief including the arguments of both parties.
c. a statement of the grounds for reversal.
d. a copy of the record on appeal.