After agreeing to be the payee for a promissory note as payment for the sale of goods, a business:
A) may sell the note to a third party in exchange for cash
B) may discount the note to a third party
C) all apply in the case of a third-party discount note
D) receives the maturity value of the note if sold to another party, minus the third-party discount

Question

Quizplus · Accepted Answer

The Answer of After agreeing to be the payee for a promissory note as payment for the sale of goods, a business:
A) may sell the note to a third party in exchange for cash
B) may discount the note to a third party
C) all apply in the case of a third-party discount note
D) receives the maturity value of the note if sold to another party, minus the third-party discount

After Agreeing to Be the Payee for a Promissory Note