[jeff]

REG Resources:

Free REG Notes & Audio – https://www.another71.com/cpa-exam-study-plan

REG 10 Point Combo: https://www.another71.com/products-page/ten-point-combo

REG Score Release: https://www.another71.com/cpa-exam-scores-results-release

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Kenada]

On August 1, Titan wrote a personal check that was drawn on First Plymouth Bank and made payable to Brass. Brass, on August 2, presented the check to First Plymouth Bank for payment, which was refused. Who had primary liability on this check?

First Plymouth on August 1 but not on August 2.

First Plymouth on August 2 but not on August 1.

Titan on August 2 but not August 1.

No one on August 1 or August 2.

FAR 05/27/14; 786/110 - Done !

[smsingla]

D?

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

D?

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Kenada]

Yes it is D .. but why it it D?

The bank refused payment so shouldn't Titan now be primary liable.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Yes it is D .. but why it it D?

The bank refused payment so shouldn't Titan now be primary liable.

FAR 05/27/14; 786/110 - Done !

[Sam]

I don't think that First Plymouth's refusal makes Titan primarily liable. I think Titan is still secondarily liable as the drawer of the check.

[Sam]

I don't think that First Plymouth's refusal makes Titan primarily liable. I think Titan is still secondarily liable as the drawer of the check.

[smsingla]

Because Banks are Primarily liable only after they accept the check and they don't have any obligation to accept it. And a person who writes the check can never be a primarily liable. He will always be secondary liable. I hope I m making sense

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

Because Banks are Primarily liable only after they accept the check and they don't have any obligation to accept it. And a person who writes the check can never be a primarily liable. He will always be secondary liable. I hope I m making sense

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Kenada]

Montrose sent Bilbo a written offer to sell his tract of land located in Majorsville for $50,000. The parties were engaged in a separate dispute. The offer stated that it would be irrevocable for 30 days if Bilbo would promise to refrain from suing Montrose during this time. Bilbo promptly delivered a promise not to sue during the term of the offer and to forego suit if she accepted the offer. Montrose subsequently decided that the possible suit by Bilbo was groundless and therefore phoned Bilbo and revoked the offer 10 days after making it. Bilbo mailed an acceptance on the 30th day. Montrose did not reply. Under the circumstances

Montrose’s offer was supported by consideration, and was irrevocable for the 30-day period.

Montrose’s written offer would be irrevocable even without consideration.

Bilbo’s promise was accepted by Montrose by his silence.

Montrose’s revocation, not being in writing, was invalid.

FAR 05/27/14; 786/110 - Done !

[Kenada]

Montrose sent Bilbo a written offer to sell his tract of land located in Majorsville for $50,000. The parties were engaged in a separate dispute. The offer stated that it would be irrevocable for 30 days if Bilbo would promise to refrain from suing Montrose during this time. Bilbo promptly delivered a promise not to sue during the term of the offer and to forego suit if she accepted the offer. Montrose subsequently decided that the possible suit by Bilbo was groundless and therefore phoned Bilbo and revoked the offer 10 days after making it. Bilbo mailed an acceptance on the 30th day. Montrose did not reply. Under the circumstances

Montrose’s offer was supported by consideration, and was irrevocable for the 30-day period.

Montrose’s written offer would be irrevocable even without consideration.

Bilbo’s promise was accepted by Montrose by his silence.

Montrose’s revocation, not being in writing, was invalid.

FAR 05/27/14; 786/110 - Done !

[Skrier]

Hey there- I don't think I can be of much help after that exam!!! That totally sucked!!!

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[Skrier]

Hey there- I don't think I can be of much help after that exam!!! That totally sucked!!!

AUD- 84
FAR- 75
REG- 78...I am DONE!!!
BEC- 79

[Anonymous]

Skrier…Nooo don't say that!!! You probably did better than you think. You need a mental break I am sure. It takes me about a week to fully recover from an exam!

@IY247 is it A? Montrose’s offer was supported by consideration, and was irrevocable for the 30-day period.

[Anonymous]

Skrier…Nooo don't say that!!! You probably did better than you think. You need a mental break I am sure. It takes me about a week to fully recover from an exam!

@IY247 is it A? Montrose’s offer was supported by consideration, and was irrevocable for the 30-day period.

[Author]

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