Ann receives an instrument that reads, May 1, 2018. Sixty days after date, I promise to pay

Question:

Ann receives an instrument that reads, “May 1, 2018. Sixty days after date, I promise to pay to the order of bearer $1,000 with interest at an annual rate of 5 percent. Due on June 30, 2018. [Signed] Bob Smith.” This instrument is

a. a draft and negotiable.

b. a draft and nonnegotiable.

c. a promissory note and negotiable.

d. a promissory note and nonnegotiable.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Law Text And Exercises

ISBN: 9780357717417

10th Edition

Authors: Roger LeRoy Miller, William E. Hollowell

See More Books

Question Posted: Feb 26, 2024 03:02 AM

See More Questions

Two of the following four compounds are more acidic than CH 3 OH (i.e., two of these have K a greater than methanol). Which ones? (a) A and B; (b) B and C; (c) C and D; (d) D and A; (e) D and B....
Two of the following four compounds are more acidic than CH 3 OH (i.e., two of these have K a greater than methanol). Which ones? (a) A and B; (b) B and C; (c) C and D; (d) D and A; (e) D and B....
Charges of +2.0 nC and 1.0 nC are located at opposite corners, A and C, respectively, of a square which is 1.0 m on a side. What is the electric potential at a third corner, B, of the square (where...
What role does the general ledger department play in the conversion cycle?
A product can be produced at a total cost C(x) = 800+100x2+x3 dollars, where x is the number produced. If the total revenue is given by R(x) = 60,000x-50x2 dollars, determine the level of production,...
In horizontal analysis, each item is expressed as a percentage of the: (a) net income amount. (b) stockholders equity amount. (c) total assets amount. (d) base year amount.
A printed circuit board has eight different locations in which a component can be placed. If five identical components are to be placed on the board, how many different designs are possible?
Variance analysis, working backward the Jinwa Corporation sells two brands of wine glasses: Plain and Chic. Jinwa provides the following information for sales in the month of June 2009: All variances...
Amy has preferences over the == consumption good and leisure defined by the utility function U(C,1) = Cl. Let h = 24 hours. Amy receives $80 in dividends and pays $20 in taxes. (a) (8 points) Write...
Marit worked for Town & Garden, a landscape design service owned by Donald. Marit signed a note payable to Donald to purchase an ownership interest in Town & Garden. The note, which was undated,...
Lisa writes out a check payable to the order of Jeff. Negotiation occurs when Jeff receives the check. Jeff subsequently negotiates the check by a. indorsing it only. b. delivering it only. c....
Copy the drawing and annotate it to explain the replication of DNA.
What is the output of the following application? A. 50 B. 51 C. The code does not compile because of the lambda expression. D. The code does not compile for a different reason. E. The code compiles...
Given the following code snippet, what statement about the values printed on lines p1 and p2 is correct? A. They are always the same. B. They are sometimes the same. C. They are never the same. D....
Assuming the proper generic types are used, which lambda expression can be assigned to a ToDoubleBiFunction functional interface reference? (Choose three.) A. (Integer a, Double b) -> {int c; return...
Which functional interface returns a primitive value? A. BiPredicate B. CharSupplier C. LongFunction D. UnaryOperator E. TriDoublePredicate F. None of the above.
Which fills in the blank so the code is guaranteed to print 1? var stream = Stream.of(1, 2, 3); System.out.println(stream.__________); A. anyMatch() B. findAny() C. first() D. min() E. None of the...
A beginning accounting student tried to complete a work sheet for Joyce Lee's Tax Service. The following adjusting entries were to have been analyzed and entered onto the work sheet. The work sheet...
What can scientists learn by comparing the fossilized skeletons of extinct primates with the bones of modern species?
Is the matter of whether a contract exists judged according to a subjective standard or an objective one? Explain.
Why is the value of certainty so important to contract law ?Does elevating this value lead to unfair results?
How does the presence of a written contract assist in dispute resolution?
The data in the table models the spread of bacteria in a petri dish, where n is the number of minutes and an is the number of bacteria microns. n an 0 3 1 6 2 12 3 24 4 48 5 96 Write an explicit rule...
Cups of Water Time to boil in seconds 0 24.87 51.02 1 137 1 177 2 192 2 1/2 203 Construct a graph plotting the time on the vertical (y) axis and the amount of water on the horizontal (x) axis. If a...
7. Jessie rents a car with cost described by C = 75x + 150 where x is the number of days. If he pays $1200, how many days did he rent the car for?

Ann receives an instrument that reads, May 1, 2018. Sixty days after date, I promise to pay

Question:

Step by Step Answer:

The instrument described is a promissory note A promissory note is a written pr...View the full answer

Business Law Text And Exercises

Students also viewed these Social Science questions