When Ambiguous Language in an Instrument Exists

question 52

Multiple Choice

When ambiguous language in an instrument exists:

• A) the instrument becomes non-negotiable.
• B) handwriting supersedes typewritten words.
• C) typewritten words supercede handwritten words.
• D) judgment interest accumulates at the rate of 5% per annum.

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Definitions:

Rare Painting

Describes a unique or scarce artwork that is often highly valued due to its rarity, artist, historical significance, or aesthetics.

Public Exhibition

An event where items, artworks, or presentations are displayed to the general public.

Pension Liability

The total amount of money a company is obligated to pay to its employees' pension funds in the future.

Actuary

A professional who analyzes financial risk using mathematics, statistics, and financial theories, particularly in the insurance and finance industries.