Which of the following is true of checks?
A) It is a two-party instrument.
B) It is always payable on demand.
C) It requires that the drawer is holding the drawee's money.
D) It necessitates that the seller has to be both the drawer and the payee.
Correct Answer:
Verified
Q19: Under the ULB, only banks can become
Q20: In a conditional endorsement, no subsequent holder
Q21: A(n) _ is a written, dated, and
Q22: Tolling is a type of countertrade which
Q23: With regard to the form requirements for
Q25: An advising bank assumes no liability for
Q26: When a bank is the maker promising
Q27: In a letter of credit transaction, an
Q28: A(n) _ is a person who has
Q29: Barter is an example of a countertrade.
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents