JeanClaude Creates and Signs a Promissory Note

question 12

Multiple Choice

JeanClaude creates and signs a promissory note. He promises to pay Suzy $1,000 worth of French francs plus $500 worth of custom-made shirts on October 15, in exchange for Suzy's help in renovating his kitchen. The note is :

• A) nonnegotiable, because of JeanClaude's signature.
• B) negotiable, because all the elements of the note are valid.
• C) nonnegotiable, because it calls for payment in French francs.
• D) nonnegotiable, because it calls for payment in shirts.

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Definitions:

Stock Market

A public market for buying, selling, and trading company stocks and securities, reflecting the economic health of a country or region.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns, typically through the purchase of assets like stocks or bonds.

Labor Market

The supply and demand for labor, where employers seek to hire workers and workers seek employment, typically analyzed by wages, hours, and conditions.

Fairness

The characteristic of forming opinions that are unbiased and honest.