Multiple Choice
Jared writes Lisa a check for $500.Because the check does not specify a time of payment,it is considered a
A) certificate of deposit.
B) demand instrument.
C) nonnegotiable instrument.
D) promissory note.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q7: An instrument that states simply "I.O.U." is
Q8: An instrument does not need to be
Q11: A check is not negotiable if it
Q28: Sarah has a checking account at Secure
Q37: The recipient of a negotiable instrument becomes
Q41: Alpha Company issues a trade acceptance with
Q46: An instrument "payable to bearer" is transferable
Q57: The writing evidencing a negotiable instrument must
Q60: A check "payable to the order of
Q61: On a sheet of paper, Elle writes,