A Demand Instrument Is Payable Immediately After It Is Issued

question 57

True/False

A demand instrument is payable immediately after it is issued.

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Definitions:

Reverse Share Split

A corporate action in which a company reduces the total number of its outstanding shares, typically to increase the per-share price.

Fractional Shares

Shares of stock that are less than one full share, which can occur through dividend reinvestment plans or stock splits.

Duty Of Care

A legal obligation to avoid acts or omissions that could likely cause harm to others.

Ordinarily Prudent Person

A legal standard that represents how a typical, reasonable person would act in certain circumstances, usually used to determine negligence.