LNG LLC and Mainline Utility Corporation Enter a Contract for a Sale

question 55

Multiple Choice

LNG LLC and Mainline Utility Corporation enter a contract for a sale of liquefied natural gas. LNG draws a draft unconditionally ordering Mainline to pay $50,000 to LNG's order in sixty days. Mainline signs and dates the draft. LNG can sell the draft to

• A) Mainline only.
• B) LNG's bank only.
• C) any party after the draft has been paid.
• D) any party before payment is due.

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Definitions:

Facility's Security

Measures and protocols implemented to protect a building or service area from unauthorized access, damage, or theft.

Cultural Backgrounds

The diverse social practices, values, traditions, and customs that individuals belong to or are influenced by.

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.

Federal Agency

An administrative unit of the executive branch of the government, responsible for the oversight and administration of specific functions.