If the description of interest in the instrument does not allow the amount of interest to be ascertained,then interest is payable at the:
A)variable rate.
B)judgment rate.
C)order rate.
D)fixed rate.

Question

Quizplus · Accepted Answer

If the description of interest in the instrument does not allow the amount of interest to be ascertained,then interest is payable at the judgment rate in effect at the place of payment at the time interest first accrues.

If the Description of Interest in the Instrument Does Not