A(n)________ is an exception in promissory notes, as it does not require the maker's unconditional and affirmative promise to pay.
A)trade acceptance
B)collateral note
C)remittance advice
D)certificate of deposit

Question

Quizplus · Accepted Answer

A certificate of deposit is an exception because it is a bank's acknowledgment of receipt of money with an agreement to repay it, rather than a promissory note with an unconditional promise to pay.

A(n)________ Is an Exception in Promissory Notes, as It Does