The payee of a certificate of deposit is not allowed to withdraw the funds before the date of maturity, because the instrument is a time deposit.
Correct Answer:
Verified
Q7: An instrument that orders the drawee to
Q8: A promissory note is both a debt
Q9: For a drawee to be obligated to
Q10: A check is not a demand instrument,
Q11: To be negotiable, an instrument must condition
Q13: Because negotiable instruments were originally paper documents,
Q14: When a note is lost, impaired, or
Q15: A promissory note signed to obtain a
Q16: No drafts other than checks may be
Q17: An unusual signature clearly increases the marketability
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