Question: If a drawee refuses to pay an unaccepted draft, the draft is dishonored, and the drawee becomes liable for refusing to pay it . True

If a drawee refuses to pay an unaccepted draft, the draft is dishonored, and the drawee becomes liable for refusing to pay it.
True or False
If a drawee refuses to pay an unaccepted draft, the draft

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

The image on the left in the figure below consists of alternating stripes of black/white, each stripe being two pixels wide. The image on the right is the Fourier spectrum of the image on the left,...

Q:

If a drawee refuses to pay an tanaccepted draft, the draft is dishonored, and the drawee becomes liable for refusing to pay it . True or False True

Q:

1.One of these promissory notes is not secured by mortgage or any other collateral: a.Bottomry bond b.Mortgage bond c.Debenture d.Insurer's bond 2.First statement: A promissory note that is payable...

Q:

I The case * * * involves a bank check. A check is defined as a draft payable on demand and drawn on a bank. [UCC] 3204.*** The case * * * arises from Petitioners irritation with the Bank of Americas...

Q:

1) The following are types of negotiable instruments: A) Verbal promises to pay and electronic certificates of deposit. B) Drafts, including checks, and leases. C) Written promissory notes and...

Q:

1) The following are types of negotiable instruments: A) Verbal promises to pay and electronic certificates of deposit. B) Drafts, including checks, and leases. C) Written promissory notes and...

Q:

10) There are three parties to a draft: a drawer, a drawee and a payee, and the draft must be written. True or false 11) Order paper is converted to bearer paper by a blank indorsement. true or false...

Q:

1. Mr., Edwards, a former policeman, was hired to do investigations for the stock exchange When it was found out that Edwards had cheated on the examination required by the stock exchange. he was...

Q:

1. Felix draws a check payable to "DeliMart" to buy groceries. Felix's check is most likely a. a certificate of deposit. b. an order to pay. c. a promise to pay. d. a promissory note. 2. Felix draws...

Q:

N Question 1 Not yet answered Marked out of 1.001 Flag question Sigmund ordered and ate a meal at the Blue Fez restaurant. Which of the following statements is TRUE? Select one: OA. The Sale of Goods...

Q:

A PDF version of this assignment is attached.I'll also put it in the Assignments folder in Files.As usual, you'll answer the questions in the online version.That version will be available for you to...

Q:

Gline Tech Inc. bought debt securities for $50,000 on January 1, year 1 which it classified and accounted for as available for sale securities. At the end of the year 1, fair value of securities was...

Q:

Explain the reaction and the standard gibbs free energy. The number of electron in the reaction is? NADH is reduced below reaction: QH2 + 1/2 02 -Q + H2O. Show AEo' of this reaction.

Q:

Currently, the highest amount of compensation offered by a state is Group of answer choices $ 8 0 , 0 0 0 per year $ 2 0 0 , 0 0 0 per year $ 7 0 , 0 0 0 per year $ 5 0 , 0 0 0 per year

Q:

Free cash flow valuation You are evaluating the potential purchase of a small business with no debt or preferred stock that is currently generating $ 4 2 , 7 0 0 of free cash flow ( F C F 0 = $ 4 2 ,...