Ken presents an instrument that states "pay to the order of Laura" to MegaBank for payment. This instrument is the most common type of negotiable instrument, which is

Question

Ken presents an instrument that states "pay to the order of Laura" to MegaBank for payment. This instrument is the most common type of negotiable instrument, which is​

Quizplus · Accepted Answer

A check is the most common type of negotiable instrument used for making payments. It is an order by the account holder to the bank to pay a specific amount to the person or entity mentioned on the check. A note is also a negotiable instrument, but it is a promise to pay a specific amount by the person who creates it. Payment via mobile device is not a negotiable instrument. A certificate of deposit is a time deposit where the bank pays interest, but it is not used for making payments.

Ken Presents an Instrument That States "Pay to the Order