To obtain office supplies for Doctors Medical Clinic, Emma executes a draft in favor of Floyd. A draft is
A) a conditional promise to pay money.
B) an unconditional written order to pay money.
C) a qualified promise to set aside a sum of money.
D) a restricted promise to deliver goods at a future date.
Correct Answer:
Verified
Q26: To be negotiable, an instrument must be
Q27: Fact Pattern 25-1
Erin draws a check payable
Q28: With an interest-bearing instrument, it is necessary
Q29: Fact Pattern 25-2
LNG Corporation and Mid-state Utility
Q30: To be negotiable, an instrument must not
Q32: An undated instrument cannot be negotiable.
Q33: Any person in possession of a negotiable
Q34: With respect to negotiability, a mere reference
Q35: For an instrument to be negotiable, it
Q36: Instruments that say nothing about when payment
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