Fact Pattern 19-2 ​LNG Corporation and Midstates Utility Company Enter a Contract for a Contract

question 63

Multiple Choice

Fact Pattern 19-2
​LNG Corporation and Midstates Utility Company enter a contract for a sale of liquefied natural gas. LNG draws a draft unconditionally ordering Midstates Utility to pay $50,000 to LNG's order in sixty days. Midstates Utility signs and dates the draft.
-Refer to Fact Pattern 19-2. This instrument is

• A)a banker’s acceptance.
• B)a nonnegotiable instrument.
• C)a promissory note.
• D)a trade acceptance.

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Computer

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A specially designed computer that can perform complex calculations extremely rapidly; used in situations in which complex models requiring intensive mathematical calculations are needed (such as weather forecasting or atomic energy research).

Large

Referring to something of significant size or magnitude, often relative to other objects or measures.

Expensive

Characterized by high cost or value; often referring to goods, services, or processes requiring significant financial investment.