The draft that requires immediate payment by the drawee to the payee, which is true of a check, is called:
A) a trade acceptance draft
B) a sight draft
C) a time draft
D) an account receivable
E) none of the other choices
Correct Answer:
Verified
Q267: When the maker promises to repay the
Q268: A(n) _ is a legally binding written
Q269: According to the UCC, a draft may
Q270: Under Article 3 of the UCC, a
Q271: When a draft guarantees payment for goods
Q273: A sight draft is:
A) also known as
Q274: When a draft guarantees payment for goods
Q275: Under Article 3 of the UCC, a
Q276: When real estate is used as collateral
Q277: When a note is to be paid
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