When a Note Is to Be Paid in Regular Payments

question 195

Multiple Choice

When a note is to be paid in regular payments but also includes a final payment more than double the regular payments, the note is called:

• A) an installment note
• B) a collateral note
• C) a payee note
• D) a maker note
• E) none of the other choices

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Definitions:

Federal Minimum Wage

The lowest legal hourly wage that employers can pay their employees, as mandated by federal law.

Landrum-Griffin Act

A U.S. law enacted in 1959 to regulate labor unions' internal affairs and their officials' relationship with employers.

Internal Affairs

A division within a police department or other organization that investigates incidents involving its own members, ensuring operational integrity.

Honesty

The quality of being fair, truthful, and sincere in one's actions, statements, and relationships.