Scott Presents an Instrument That States "Pay to the Order

question 22

Multiple Choice

Scott presents an instrument that states "pay to the order of Scott" to Town Bank for payment.This instrument is the most common type of negotiable instrument,which is

• A)a commercial wire transfer.
• B)a check.
• C)a note.
• D)a substitute check.

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Definitions:

Future

In a general context, 'future' refers to the time or a period of time following the moment of speaking or writing; in finance, it often pertains to a contract to buy or sell an asset at a later date.

Exaggeration

A statement that represents something as better or worse than it really is, often used for emphasis or effect.

Fraud

The intentional deception or misrepresentation made by a person with the aim of gaining something of value or causing some benefit to themselves at another’s expense.

Innocent Party

An individual or entity not responsible or involved in the wrongdoing or legal dispute in question.