Short Answer Essays
Answer the following questions in short-answer essay format. Each essay must be 5-7 complete sentences and is worth 8 points.
Each essay must include an introduction, body, and conclusion. It must address all relevant parts of each activity. Please cite the course textbook, and if necessary, you may cite outside sources. Proper citation format for a reference includes the name of the author(s), the title of the work, the date of the publication, and the page number.
Essay Questions
Describe the rules and procedures for stopping payment on a check.
Identify the parties involved in various types of commercial paper.
Distinguish between the two basic kinds of commercial paper, promises to pay (notes) and orders to pay (checks and drafts).
List and explain the essentials for negotiability of commercial paper.
List and explain the nonessentials for negotiability of commercial paper.
