Asked by Julia Ibanez on Jun 16, 2024
Verified
Which of the following would be an unconditional promise or order to pay?
A) "I hereby acknowledge my debt to John Jones."
B) "I hereby promise to pay $2,000 to John Jones provided the lawn tractor sold meets the contractual specifications."
C) "Pay to the order of bearer ten dollars."
D) "IOU fifty dollars."
Unconditional Promise
A pledge or assurance without any stipulations, qualifiers, or conditions, guaranteeing certain actions or outcomes.
Contractual Specifications
Detailed descriptions outlined in a contract that specify the agreed-upon standards, materials, and methods to be used.
"IOU"
An informal document acknowledging a debt.
- Ascertain the detailed prerequisites for a promise or order to be regarded as unconditional and payable at an established time.
Verified Answer
KA
Karolina AndrijauskaiteJun 22, 2024
Final Answer :
C
Explanation :
Option C, "Pay to the order of bearer ten dollars," is an unconditional promise or order to pay because it does not stipulate any conditions that must be met before the payment is made.
Learning Objectives
- Ascertain the detailed prerequisites for a promise or order to be regarded as unconditional and payable at an established time.