Fact Pattern 16-1
Ewa signs an instrument unconditionally promising to pay to “First State Bank” $5,000 with interest in installments with the final payment due June 1, 2012.

-Refer to Fact Pattern 16-1.The instrument that Ewa signed is most likely

Question

Fact Pattern 16-1 
Ewa signs an instrument unconditionally promising to pay to “First State Bank” $5,000 with interest in installments with the final payment due June 1, 2012.

-Refer to Fact Pattern 16-1.The instrument that Ewa signed is most likely

Quizplus · Accepted Answer

The fact pattern describes Ewa signing an instrument that promises to pay a certain amount of money to the order of another party. This is the definition of a promissory note, making choice D the best answer.