A two-party instrument in which one person makes an unconditional promise in writing to pay another person, with or without interest, either on demand or at a specified, future time is a _____.
A) promissory note
B) certificate of deposit
C) draft
D) check

Question

Quizplus · Accepted Answer

A promissory note is a two-party instrument in which one person (known as the maker) makes an unconditional promise in writing to pay another person (the payee), a person specified by that person, or the bearer of the instrument, a fixed amount of money, with or without interest, either on demand or at a specified, future time. It is the simplest form of commercial paper.

A Two-Party Instrument in Which One Person Makes an Unconditional