Which of the Following Is True Regarding Negotiable Instruments as Compared

question 81

Multiple Choice

Which of the following is true regarding negotiable instruments as compared to contracts?

• A) Similar to contracts, negotiable instruments require consideration.
• B) Similar to contracts, negotiable instruments require offer and acceptance; but unlike contracts, negotiable instruments do not require consideration.
• C) A negotiable instrument is a form of a contract and may be referred to as such.
• D) Negotiable instruments lack the requirements of contracts involving consideration, offer, and acceptance.
• E) Negotiable instruments require the same elements as contracts in regard to consideration, offer and acceptance.

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Definitions:

Existing List

A pre-created or previously compiled list that is utilized or referenced in various applications or contexts.

Outlook Contacts

A feature in Microsoft Outlook that allows users to save and manage contact information such as email addresses, phone numbers, and mailing addresses.

General Legacy

A bequest of a specific amount of money or a specific asset to a particular beneficiary, as stipulated in a will.

Specific Legacy

A bequest in a will that leaves a particular piece of property or a specified asset to a designated beneficiary.