Multiple Choice
Fact Pattern 24-2A (Questions A3-A4 apply)
Commodity Sales Corporation and Resource Purchasing Company enter a contract for a sale of unprocessed silver.Commodity Sales draws a draft unconditionally ordering Resource Purchasing to pay $50,000 to Commodity Sales's order in sixty days.Resource Purchasing signs and dates the draft.
-Refer to Fact Pattern 24-2A.This instrument is
A) a banker's acceptance.
B) a nonnegotiable instrument.
C) a promissory note.
D) a trade acceptance.
Correct Answer:
Verified
Correct Answer:
Verified
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Q17: Fact Pattern 24-2A (Questions A3-A4 apply)<br>Commodity Sales
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