An instrument with an unconditional written promise to pay, or pay to the order of another party, a certain sum of money on demand or at a definite time is known as a:
A) garnishee order.
B) negotiable instrument.
C) stop-payment order.
D) restraining order.

Question

Quizplus · Accepted Answer

A negotiable instrument is a type of legal document that guarantees payment of a specific amount of money upon demand or on a predetermined date. Examples of negotiable instruments include checks, promissory notes, and bills of exchange.

An Instrument with an Unconditional Written Promise to Pay, or Pay