Multiple Choice
To obtain office supplies for Doctors Medical Clinic,Elmo executes a draft in favor of Flynn.A draft is
A) a conditional promise to pay money.
B) an unconditional written order to pay money.
C) a qualified promise to set aside a sum of money.
D) a restricted promise to deliver goods at a future date.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: An instrument that promises to pay "in
Q2: An undated instrument is not negotiable.
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Q4: Karen writes on a piece of paper,"I
Q6: A promissory note payable to "bearer" is
Q7: Hayley signs an instrument payable to the
Q8: Ryan signs an instrument using an "R"
Q9: Shad signs a promissory note payable to
Q10: For an instrument to be negotiable,it need
Q11: A statement in an instrument that payment