Asked by Paulina Martinez on May 17, 2024
Verified
Analynd issues a note to Baliee indicating a specified date of payment in which to pay the note. This is an example of a(n) ________ instrument.
A) time
B) demand
C) recourse
D) draft
E) intermediary
Specified Date
A particular or agreed upon day on which an event is scheduled to occur or a deadline is to be met.
Time Instrument
A document promising payment of a certain amount of money at a fixed or determinable future time, such as a promissory note or check.
Payment
The transfer of money or goods from one party to another as compensation for goods, services, or to fulfill a legal obligation.
- Ascertain the varieties of negotiable instruments accepted under the Uniform Commercial Code (UCC).
- Comprehend the standards that qualify an instrument as negotiable.
Verified Answer
Learning Objectives
- Ascertain the varieties of negotiable instruments accepted under the Uniform Commercial Code (UCC).
- Comprehend the standards that qualify an instrument as negotiable.
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