An Agreement Under Which One Party Agrees to Pay Drafts

question 44

Multiple Choice

An agreement under which one party agrees to pay drafts drawn by a creditor is called a: ______.

• A) contract of surety.
• B) guaranty contract.
• C) letter of credit.
• D) debtor's agreement.

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Definitions:

Carbon Dioxide

An invisible, scentless gas created when carbon and organic compounds are combusted and through the process of breathing, used by plants during photosynthesis.

Heart

An organ comprised of muscle in the majority of animals that circulates blood through the vessels of the circulatory system by pumping.

Angina

Chest pain or discomfort caused by reduced blood flow to the heart muscle.

Chest Pain

A discomfort or pain that one feels anywhere along the front of the body between the neck and upper abdomen.