A ________ Is a Two-Party Instrument in Which One Person

question 69

Multiple Choice

A ________ is a two-party instrument in which one person makes an unconditional promise in writing to pay another person,a person specified by that person,or the bearer of the instrument,a fixed amount of money,with or without interest,either on demand or at a specified,future time.

• A)promissory note
• B)certificate of deposit
• C)cashier's check
• D)teller's check

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Definitions:

Payor Banking Group

A consortium or group of banks that manages the payment and settlement of transactions for clients.

Written Stop Payment Order

A formal request made to a bank by an account holder instructing the bank not to pay a specific check or payment.

Affirmative Duties

Obligations requiring individuals or entities to take certain actions or measures, often imposed by law or contract.

Assert Their Rights

To take actions or steps to claim or enforce one’s legal entitlements or privileges, often in the face of opposition or indifference.