Asked by Sabrina Benavides on Apr 24, 2024
Verified
Checks are payable ________.
A) three business days after they are issued
B) three calendar days after they are issued
C) forty-eight hours after they are issued
D) as soon as they are issued
E) at a definite time
Payable
Due for payment; a financial obligation that one party has to pay to another.
Issued
The act of officially distributing or making something available, often used in contexts like the issuance of currency, stocks, or legal documents.
Checks
Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or named party.
- Distinguish between order and bearer instruments and their negotiation processes.
Verified Answer
TP
Tereza PerezMay 02, 2024
Final Answer :
D
Explanation :
Demand instruments,such as checks,are payable as soon as they are issued.
Learning Objectives
- Distinguish between order and bearer instruments and their negotiation processes.
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