Len Signs a Note "Payable to the Order of Account

question 57

Multiple Choice

Len signs a note "payable to the order of Account Collection Agency." Unless Len has a valid defense against payment, his liability on this note is​

• A) ​immediate.
• B) ​imposed only after payment is demanded.
• C) ​postponed until the note is dishonored by the payee.
• D) ​suspended until payment is due.

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Definitions:

Random Walk

A theory suggesting that the price movements of securities are unpredictable and random, making it impossible to consistently predict their future movements based on past trends.

Stock Prices

The current market price at which a share of a company is bought or sold.

Price Changes

Adjustments in the price levels of goods, services, or securities in the market.

Market Efficiency

A financial market attribute where prices of securities fully reflect all available information at any moment in time.