On June 1, Rituparna Bought a Widget from Joel

question 20

Multiple Choice

On June 1, Rituparna bought a widget from Joel. The price was $75 000. On that same day, she gave him a bill of exchange for that amount that was drawn on the Bank of Brandon. Which of the following statements is TRUE?

• A) June 1 is not necessarily the due date.
• B) Unlike a cheque, a bill of exchange is automatically considered to be certified unless the relevant account is overdrawn.
• C) Rituparna is the drawee, Joel is the payee, and the Bank of Brandon is the acceptor.
• D) A bill of exchange must be payable on demand.
• E) The Bank of Brandon owes Rituparna a legal duty to accept the bill if Joel's account balance is at least $75 000.

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Definitions:

Concession Bargaining

A negotiation process where the union agrees to reduce benefits or alter conditions in exchange for something from the employer, often during economic difficulties.

Sequential Bargaining

a negotiation strategy where discussions and agreements on multiple issues occur in a specific sequence, rather than simultaneously.

Pattern Bargaining

A labor negotiation strategy where a union establishes contract terms with one employer and then seeks to apply those terms to negotiations with other employers in the same industry.

Decentralization

The process of distributing or dispersing functions, powers, people, or things away from a central location or authority.