Asked by Joseph Amberg on Jun 16, 2024
Verified
When a party signs a negotiable instrument without knowing that it is,in fact,a negotiable instrument,the party can claim ________.
A) negligence
B) recklessness
C) malice
D) fraud in the factum
E) fraud in the factum and fraud in the inducement
Fraud In The Factum
A liability defense available to a party who signs a negotiable instrument without knowing that it is a negotiable instrument.
Negotiable Instrument
A written assurance for the remittance of a fixed sum of money, payable either on demand or at a future date, with the document clearly stating the name of the individual making the payment.
Liability
A legal responsibility or obligation.
- Understand the concept of fraud in the inducement and fraud in the factum and how they affect liability.
Verified Answer
Learning Objectives
- Understand the concept of fraud in the inducement and fraud in the factum and how they affect liability.
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