Barry Draws a Check Payable to "Cash" and Presents It

question 41

Multiple Choice

Barry draws a check payable to "Cash" and presents it to Dollars & Sense store for payment. This instrument is​

• A)a bearer instrument.
• B)an order instrument.
• C)valid but nonnegotiable.
• D)void.Fact Pattern 14-2 LNG Corporation and Midstates Utility Company enter a contract for a sale of liquefied natural gas by LNG to Midstates.LNG draws a draft unconditionally ordering Midstates Utility to pay $50,000 to LNG's order in sixty days.Midstates Utility signs and dates the draft.

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Definitions:

Wizard

A user interface element that guides users through a step-by-step process for completing a task or setting up a software application.

Step-By-Step

A detailed, sequential guide or set of instructions designed to accomplish a specific task or process.

Federal Law

Legislation enacted by the national government of a country, applicable throughout the entire country and superseding local laws in matters of national jurisdiction.

Parental Consent

Legal permission granted by a parent or guardian allowing a minor to partake in certain activities or access certain content, especially relevant in the context of internet usage and data collection.