Checkable Deposits Are Included in

question 212

Multiple Choice

Checkable deposits are included in

• A) M1 but not in M2.
• B) M2 but not in M1.
• C) both M1 and M2.
• D) neither M1 nor M2.

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Definitions:

Holder in Due Course

A party that holds a negotiable instrument and has certain rights to payment not subject to defenses.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee named on the document.

Holder in Due Course

An individual in possession of a negotiable instrument, obtained in good faith and for value, and thereby has specific rights to enforce the instrument.

Irregular

Something that is not following the usual rules, patterns, or expected behavior; often refers to inconsistent or erratic actions.