Oliver Signs an Instrument That States It Is Being Executed

question 63

Multiple Choice

Oliver signs an instrument that states it is being executed "as per a contract for the sale of a case of apples dated May 1." This instrument is

• A) ​negotiable.
• B) ​not negotiable, because banks cannot easily process commodities.
• C) ​not negotiable, because it includes the specific date of a contract.
• D) ​not negotiable, because it refers to an express contract.

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Definitions:

Competition Act

Legislation designed to promote fair business practices and protect consumers by preventing monopolies and promoting competition.

Bid-rigging

A form of fraud in which competitors agree in advance who will win a bidding process, thus undermining the competition.

Misleading Advertising

Advertising that deceives or is likely to deceive the consumer, often leading to an incorrect understanding or decision.

Competition Act

A law designed to preserve and promote competition and to protect consumers from anti-competitive practices by companies.