An unconditional written promise made by one person to another, signed by the maker, that promises to pay on demand a specific sum of money to the bearer is a:
A) nonnegotiable draft.
B) bill of exchange.
C) promissory note.
D) certificate of deposit.
Correct Answer:
Verified
Q16: A nonnegotiable instrument's terms are not enforceable.
Q17: The maker is the person who writes
Q18: Article 2 of the Uniform Commercial Code
Q19: Commercial paper are transferable, written, signed promises
Q20: Commercial paper facilitates the transfer of funds
Q22: The party who writes or creates a
Q23: If an instrument states no time for
Q24: An authorized agent signing an instrument will
Q25: Article 3 of the UCC establishes a
Q26: If an order or promise is not
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