Business Law Terms

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Across
  1. 2. an assertion of ownership
  2. 4. party who gives an instruction to the receiving bank
  3. 7. person who authorizes another to act on her behalf
  4. 8. refusal to pay or accept an instrument when it becomes due
  5. 10. person authorized to act on another behalf
  6. 11. may be made by the individual herself or by her authorized agent
  7. 13. duty owed by principal to pay agent for authorized payments made on principal's behalf
  8. 17. sender of the first payment
  9. 19. one whose existence and identity are known
  10. 22. tender must be made at a reasonable time and kept open for a reasonable period of time
  11. 24. transfer such that transferee becomes a holder
  12. 26. one party's putting an end to a contract because of a breach by the other
  13. 30. contract to hold an offer
  14. 31. request for payment made by the holder of an instrument
  15. 32. transfer of possession of goods
  16. 34. issuer of an order to pay
Down
  1. 1. a drawee's signed commitment to honor the instrument
  2. 3. a transfer of right to possession and use of goods in return for consideration
  3. 5. negation of a warranty
  4. 6. obligation of the seller concerning title, quality, characteristics, or condition of goods
  5. 9. person to receive payment by an instrument
  6. 11. transferee gets rights of transferor
  7. 12. inability to pay debts in ordinary course of business or as they become due
  8. 14. warranty by a merchant seller that the goods are fit for their ordinary purpose
  9. 15. fulfillment of contractual obligation
  10. 16. possessor of an instrument with all necessary indorsements
  11. 18. person to be paid by the beneficiary bank
  12. 20. acceptance of a check by a bank
  13. 21. ability of an agent to change the legal status of his principal
  14. 23. total liabilities exceed total value of assets
  15. 25. movable personal property
  16. 27. a nonconsensual claim against property
  17. 28. preexisting obligation
  18. 29. no title can be transferred
  19. 33. person appointed by agent to perform agent's duties