Which of the following best describes a negotiable promissory note?
A) Any promise to pay a fixed amount of money.
B) An unconditional promise to pay a sum of money.
C) A promise to pay a sum of money upon the happening of an event outside the control of the promisor.
D) An order to a third party to make a payment in order to discharge an obligation of the promisor.
E) Both B and C are true.
Correct Answer:
Verified
Q6: Sandy signs a negotiable instrument that orders
Q6: Generally,in agency situations,the principal and agent must
Q6: A promissory note for the purchase of
Q11: An attorney is an agent when he
Q12: A sight draft that arises when credit
Q15: A check is a form of draft
Q16: An agency relationship is created by the
Q27: Which of the following is true about
Q51: Karen has a checking account at First
Q147: The law of negotiable instruments was designed
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents