Multiple Choice
When does the drawee become liable for payment of a draft?
A) When the drawer signs it.
B) Automatically upon its creation.
C) Upon accepting it.
D) Upon the performance of the underlying obligation.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q4: An agent generally is not liable on
Q10: An agency agreement may exist for an
Q17: What practical problems are there with the
Q19: The Overrock Typewriter Company has been in
Q24: An attorney is an agent when he
Q34: Today,approximately 72 percent of private sector wage
Q43: John has been hired by Bubbaweiser Beer
Q44: Charlie Customer goes to Kim,a local travel
Q47: The approximate percentage of private sector wage
Q48: Prior to the Industrial Revolution,employees and employers