A substitute for cash, or ________, is a written document containing the signature of the creator that makes an unconditional promise to pay.
A) a nonnegotiable instrument
B) a negotiable instrument
C) a payable document
D) a nonpayable document
E) an endorsed payable document

Question

Quizplus · Accepted Answer

A negotiable instrument is a written document that promises payment to a specified person or assignee. It is a substitute for cash and includes features like being unconditional and containing the signature of the person who is making the promise.

A Substitute for Cash, or ________, Is a Written Document