Which of the Following Statements About the "Payable on Demand

question 23

Multiple Choice

Which of the following statements about the "payable on demand" requirement of negotiable instruments is true?

• A)An instrument may be postdated,and normally an instrument "payable on demand" is not payable before the date of the instrument.
• B)A promise or order is "payable on demand" only if it states it is payable on "sight."
• C)A promise or order is "payable on demand" only if it states a time for payment.
• D)A promise or order is "payable on demand" only if it states it is payable on "demand."

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Definitions:

Spreading Activation

A theory in cognitive psychology that suggests ideas in the brain are connected in a network, and thinking about one concept triggers the recall of associated concepts.

Nodes

In network theory, points at which lines or pathways intersect or branch, which can refer to elements in a network or connections in a neural network.

Abstraction

The process of extracting the underlying essence or general patterns from specific instances or material representations, often used in the fields of art, mathematics, and philosophy.

Nostalgia

A sentimental longing or wistful affection for the past, often evoked by products or marketing that remind one of earlier times.