Joseph Obtains a Draft That States as Follows: "Pay to the Order

question 56

Multiple Choice

Joseph obtains a draft that states as follows: "pay to the order of Joseph Daniels the sum of $1000." Joseph wants to negotiate this instrument to Jack Spratt to pay a debt owing to Jack.To negotiate this instrument,Joseph must

• A)indicate accepted on the draft and then deliver it to Jack.
• B)endorse and deliver the instrument to Jack.
• C)present the instrument to Jack's bank and have it accepted and then transfer it to Jack.
• D)endorse and present the instrument to Jack's bank.
• E)hand over the draft to Jack and get a receipt.

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Definitions:

Prescribed Courses

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Econometrics

The application of statistical and mathematical models to analyze economic data and test hypotheses.

Empirical Economics

The branch of economics that analyzes data to develop verifiable theories or evaluate economic policies.

Economic History

The study of economies or economic phenomena in the past.