Which is the correct term for a promise made by a bank to pay a payee a certain amount of money at a future time?
A) A note
B) A draft
C) A novation
D) A check
E) A certificate of deposit

Name: Which is the correct term for a promise made by a bank to pay a payee a certain amount of money at a future time? A) A note B) A draft C) A novation D) A check E) A certificate of deposit
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Question

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A certificate of deposit is a promise made by a bank to pay a payee a certain amount of money at a future time.

Which Is the Correct Term for a Promise Made by a Bank