Multiple Choice
Bamidele drafted a negotiable instrument and delivered it to Beta Inc in payment of a debt.That instrument contains an acceleration clause.This means that
A) an enforceable obligation was created between the payee and the institution from whom payment is to be made.
B) the payee must present the instrument to a third party before a certain date.
C) the instrument will be worth one amount on or before a certain date, and a different amount after that same date.
D) although the person who drafted the instrument intended to make payment in instalments, the payee may be entitled to demand the full amount in one payment if the acceleration clause condition is met.
E) the instrument must be a bill of exchange.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Raj owed $5000 to Monica.In payment of
Q3: Patrick bought a widget from Ishani.The purchase
Q4: A share certificate may be a type
Q5: Scott bought a widget from Gowhara.The price
Q6: Stefan gave a cheque for $500 to
Q8: A document may be a negotiable instrument
Q9: Ranjit currently has possession of a cheque
Q10: Identify two types of endorsements that may
Q11: Wendell bought a widget from Sharon and
Q12: Hakim drafted a negotiable instrument and delivered