With Regard to Negotiable Instruments, Which of the Following Is

question 62

Multiple Choice

With regard to negotiable instruments, which of the following is False?

• A) A cheque is a bill of exchange drawn on a bank, payable on demand.
• B) A cheque that has been certified cannot be countermanded by the drawer.
• C) A negotiable instrument used to advance credit in a consumer transaction must be marked "consumer purchase."
• D) Bills of exchange can be made payable for some future date.
• E) A drawer of a cheque can refuse to pay any holder of it if the drawer can prove that the payee obtained the cheque by fraud.

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Definitions:

Analog Voice

The traditional method of transmitting voice information using continuous signals, differing from digital voice which uses discrete values for transmission.

Digitized

The process of converting information into a digital format, making it accessible and manipulable by computers.

World Wide Web

An information system where documents and other web resources are identified by Uniform Resource Locators (URLs), which are interlinked by hypertext and accessible via the Internet.

Intranet

A private network accessible only by an organization's staff, often used to share information, operational systems, or computing services within the organization.