Multiple Choice
Fact Pattern 24-2B
Ewa signs an instrument unconditionally promising to pay to "First State Bank" $5,000 with interest in installments with the final payment due June 1, 2012.
-Refer to Fact Pattern 24-2B. With respect to this instrument, First States Bank is
A) the drawee.
B) the drawer.
C) the maker.
D) the payee.
Correct Answer:
Verified
Correct Answer:
Verified
Q21: On May 1, Doug signs a check
Q22: Normally, if the numerical amount and the
Q23: A promissory note that states it is
Q24: A negotiable instrument serves as a substitute
Q26: Fact Pattern 24-1A <br>Flik draws a check
Q27: The accounting department of Delta Sales Company
Q28: Ross signs an instrument using an "R"
Q29: On behalf of First-Rate Capital, Inc., Greg
Q30: To be negotiable, an instrument must include
Q42: To borrow money to finance the start-up