Commercial paper differs from ordinary contracts because of the:
A) presumption of consideration and assignability.
B) ability to negotiate the commercial paper.
C) validity of the commercial paper.
D) ability to negotiate the contract.

Question

Quizplus · Accepted Answer

Commercial paper is a short-term, unsecured promissory note that is issued by a corporation to raise funds. It is different from ordinary contracts because it is presumed to be supported by consideration and is assignable.

Commercial Paper Differs from Ordinary Contracts Because of The