Which One of the Following Is Not a Function of Money

question 28

Multiple Choice

Which one of the following is not a function of money?

• A)medium of exchange
• B)means of payment
• C)store of value
• D)measure of liquidity
• E)unit of account

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Definitions:

Negligence

Negligence is the failure to take proper care in doing something, leading to damage or injury to another person.

Fictitious Payee Rule

A legal principle stating that if a negotiable instrument is issued to a fictitious payee, it may be treated as payable to bearer, affecting endorsement requirements.

Imposter Rule

A rule that holds that if one obtains a negotiable instrument by impersonating another and endorses it with the impersonated party’s signature, the loss falls on the drawer of the instrument.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify transactions across state lines.