When a Contract Is Authenticated by the Affixing of a Seal,the

question 7

Multiple Choice

When a contract is authenticated by the affixing of a seal,the contract will be enforceable even when it lacks

• A)a promissory basis.
• B)an acceptance.
• C)consideration.
• D)contractual intention.
• E)an offer.

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Definitions:

Accommodation Party

An individual or entity that signs a negotiable instrument on behalf of another party, guaranteeing payment without direct benefit.

Demand Instrument

is a financial document that requires the payer to pay the full amount upon demand by the holder, such as a check.

Individual Circumstances

Specific conditions or factors unique to a person's situation or case.

Indorser

A person who signs a negotiable instrument, such as a check, over to someone else, thereby making the recipient the legal owner of the document.