Fact Pattern 18-1 (Questions 1-2 apply)
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 18-1.The instrument that Ewa signed is most likely

Question

Quizplus · Accepted Answer

The language used - an unconditional promise to pay - and the fact that it is for a specific amount with interest and has a final due date, indicate that the instrument is a promissory note.

Fact Pattern 18-1 (Questions 1-2 Apply)