Multiple Choice Questions

Multiple Choice Questions

Question 1.1. The mortgagor of a mortgage is the lender or creditor. (Points : 2)

 
 

 

Question 2.2. A guaranty of a note must be written. (Points : 2)

 
 

 

Question 3.3. A maker of a note is not released by the sale of the security securing the note. (Points : 2)

 
 

 

Question 4.4. Forgery of a maker’s signature is a defense to a holder in due course. (Points : 2)

 
 

 

Question 5.5. Which of the following is generally not a requirement for a valid deed? (Points : 2)

 
 
 
 

 

Question 6.6. A deed that covenants only against the lawful claims of people claiming by, through, or under the grantor is a limited warranty deed. (Points : 2)

 
 

 

Question 7.7. Which of the following deed covenants can only be enforced by the owner of the property against the person who gave the property to them? (Points : 2)

 
 
 
 
 

 

Question 8.8. An endorsement without recourse negates any obligation to pay the note on the part of the endorser. (Points : 2)

 
 

 

Question 9.9. Which of the following is not a future covenant contained in a general warranty deed? (Points : 2)

 
 
 
 

 

Question 10.10. A maker of a note is released by the sale of the security securing the note. (Points : 2)

 
 

 

 

 

 

 

Answer preview

Question 1.1. The mortgagor of a mortgage is the lender or creditor. (Points : 2)

False

 

Question 2.2. A guaranty of a note must be written. (Points : 2)

True

 

Question 3.3. A maker of a note is not released by the sale of the security securing the note. (Points : 2)

True

 

Question 4.4. Forgery of a maker’s signature is a defense to a holder in due course. (Points : 2)

True

WORD COUNT:227WORDS

FORMAT:APA

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