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47.When a time instrument states that the amount due is with interest
a.it is too vague and no interest will be charged.
b.the interest rate to be paid is the date-of-instrument interest rate charged on U.S. Treasury Notes.
c.the interest rate to be paid is the date-of-instrument rate charged on U.S. Treasury Notes plus 1%.
d.the interest rate to be paid is the judgment rate of interest fixed by statute in the state where the instrument is made.
48.A bank that pays a customers check bearing a forged indorsement
a.must re-credit the customers account.
b.must re-credit the customers account if the check amount is over $50.
c.will not have to re-credit the customers account unless notified of the forgery by the customer within 15 business days of payment.
d.will not have to re-credit the customers account unless the forgery can be said to be obvious under the UCC definition.
49. A mechanics lien
a.is secured by real property.
b.is secured by personal property.
c.is an unsecured general obligation to pay.
d.cannot be imposed on a charitable organization as defined by the Internal Revenue Code.
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