Which of the following types of surgical specialty rooms would be most likely equipped with three or four overhead operating lights?

Section 4-4-201(a) states that a collecting bank “is an agent or sub-agent of the owner of the item.” Further, the statute states, “This provision applies regardless of the form of indorsement or lack of indorsement. . . .” A check payable to a party and deposited in that party’s account makes the party the “owner” of the check under the UCC.  The bank is in  ________________________ of the check.

Assets can qualify for the homestead exemption, where the homestead generally protected/exempted from bankruptcy.

“To be negotiable, the instrument must stand alone,” is true of negotiable instruments. 

Many contracts contain a liqidated damages provision that would use language like, “In the event either party breaches this agreement, the damages would only be $10,000.”  This prevents future ligation between the parties, but in no way can liqudated damages amount to a penalty. 

Under the UCC’s Statute of Frauds, unless the receiving merchant gives written notice of objection to the contents of a confirming memorandum within ten days after receipt, the writing is sufficient against the receiving merchant, even though he or she did not sign it. 

A debtor is not protected in bankruptcy for fraud. An example of fraud is transferring property to a relative where the debtor still runs and uses it.

Gabe gives Mary a note that states, “I promise to pay you $200,000,” as a gift, and Mary accepts the note.  No consideration is given in return for Gabe’s promise (because it is a gift) yet a court will enforce the promise.  

The rights of a “Holder in Due Course,” include the right to: __________________________.

For involuntary bankruptcy petitions, where creditors force a debtor into bankruptcy, if you have less than ____ creditors, one can force you into bankruptcy for $15,325 in debt (changes every three years).