Under the UCC Which of the Following Statements Is Sufficient

question 57

Multiple Choice

Under the UCC which of the following statements is sufficient to make a promise or order to pay conditional?

• A) "I promise to pay from the corporate account."
• B) "I promise to pay as per the contract for the sale of goods between the parties."
• C) "I promise to pay because I owe the money."
• D) "I promise to pay if the following occurs."
• E) "Borrower may pay without penalty all or a portion of the amount owed earlier than it is due."

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Definitions:

Present Value

A calculation that determines the current value of an amount of money to be received in the future, discounted at a specific interest rate.

Yield To Maturity

Yield to maturity is the total return expected on a bond if the bond is held until it matures, including all interest payments and the repayment of par value.

Annual Coupon

A fixed interest rate paid by a bond issuer to the bondholder, typically paid annually.

Face Value

The nominal or dollar value printed on a securities certificate or instrument, such as a bond or stock, representing the value at issuance.