To Be Negotiable,the Instrument Must Satisfy All Except Which One

question 61

Multiple Choice

To be negotiable,the instrument must satisfy all except which one of the following requirements?

• A) It must contain a promise or order to pay.
• B) It must be for a fixed amount.
• C) It must be written on paper.
• D) It must be signed.

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Definitions:

Expected Utility Function

A concept in economics that calculates the anticipated utility or satisfaction a consumer can derive from various options, considering the probabilities of different outcomes.

Sure Payment

A guaranteed financial transaction where the payer is certain to provide the agreed-upon sum to the payee.

Lottery

A form of gambling that involves the drawing of numbers at random for a prize, often analyzed for its economic impact and decision-making under uncertainty.

Probability

A measure of the likelihood that an event will occur, ranging from 0 (impossibility) to 1 (certainty).