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Joe Passes Many Billboards on His Way to Work, but Rarely

question 34

Multiple Choice

Joe passes many billboards on his way to work, but rarely even recognizes that they are there because he is paying attention to the road. By protecting himself from being overwhelmed by the billboards, Joe is engaging in ________.


Definitions:

Conditionally Liable

Refers to a legal obligation that becomes enforceable only upon the occurrence of a specified condition.

Stated Amount

The specified value or sum agreed upon in a contract for the provision of goods, services, or coverage.

Negotiable Instrument

A formal paper assuring the disbursement of a specified amount of funds, which could be paid either immediately when requested or at a scheduled time, with the document identifying the payor.

Demand Instrument

A type of draft that allows the payee to demand payment at any time from a holder.

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