A Negotiable Instrument,such as a Check,is Not a Formal Contract

question 48

True/False

A negotiable instrument,such as a check,is not a formal contract.

---

Definitions:

Collude

To come together in secret agreement, especially for a deceitful or illegal purpose.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product or service.

Annual Fixed Cost

Regular, unchanging expenses incurred by a business, regardless of its level of production or sales volume within a year.

Profit-Maximizing

A method or strategy executed by a company aiming to achieve the highest possible profit given the constraints it faces.