A Note That the Maker Is Unable or Refuses to Pay

question 23

True/False

A note that the maker is unable or refuses to pay at maturity is called a dishonored note.

---

Definitions:

Developmental Psychology

A branch of psychology that studies how people grow and change over the course of their life, from infancy to old age.

Personality Psychology

Refers to the branch of psychology that studies individual differences, traits, and patterns of thought and emotions that characterize a person over time.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors when judging others' behavior.

Cognitive Dissonance

A psychological theory that outlines the discomfort experienced when holding contradictory beliefs, values, or attitudes, leading to a change in one to reduce the dissonance.