Wiley Quiz Flashcards Preview

Yaeger REG > Wiley Quiz > Flashcards

Flashcards in Wiley Quiz Deck (16):
1

Filing allows a creditor to...

Perfect a security interest in securities

2

A third person's reasonable interpretation of a principal's representations measures...

Apparent authority

3

Secret limitations

Express limitations of agent's authority that were not known by
3rd party

4

Express limitations on an agent's authority which are not know by a third party (secret limitations) do...

Not alter an agent's apparent authority

5

Why do secret limitations not alter an agent's apparent authority? 2

1 Since 3rd party can assume there are no limits on agent's normal authority

2 unless informed to the contrary

6

Corporations may guarantee the obligations of others when...

This act reasonably furthers the corporation's business

7

An instrument payable to order and endorsed in blank becomes...

Payable to bearer (bearer paper)

8

Theft of bearer paper...

constitutes a personal defense

9

Theft of bearer paper constitutes a personal defense and a holder in due course...2

Takes free of all personal defenses of any party to instrument
With whom he has not dealt

10

Theft of order paper would constitute a...2

1 Real defense,

2 which holder in due course would take subject to

11

Proper negotiation of order paper requires...2

Which would necessitate what by theif?

1 Delivery and endorsement

2 necessitate forgery by theif

12

After a financing statement is filed, a creditor's security interest will be perfected after...

All 3 elements of attachment exist

13

Working papers may not be transferred to another accountant...

Without the client's permission

14

Under the 1933 Act, SEC registration statements:

Form S-1

Standard long form

15

Under the 1933 Act, SEC registration statements:

The SEC adopted Forms S-2 and S-3 to...

Reduce burden of disclosure over form S-1

16

In a state that has adopted several liability, the CPA firm is...

Only liable for their share of fault

Decks in Yaeger REG Class (77):