Which of the Following Is a Requirement for Commercial Paper

question 231

Multiple Choice

Which of the following is a requirement for commercial paper to be considered a negotiable instrument?

• A) It must be signed in approval by a third party.
• B) It must contain a conditional promise to pay.
• C) It must be a promise to pay a specified amount of money.
• D) It must be an oral agreement between two or more parties.

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Definitions:

Sarah Franklin Bache

An influential figure during the American Revolutionary War era, known for her charitable work and as the daughter of Benjamin Franklin.

Economic Independence

The condition where an individual possesses enough personal assets to sustain their lifestyle without the need for earning income through any type of job.

Abigail Adams

The wife of John Adams, the second President of the United States, renowned for her early advocacy of women’s rights and her influential role as a First Lady.

Household

An individual or group of people living together in a single dwelling, often functioning as a single economic and domestic unit.