Which of the Following Statements Is True of the Obligations

question 24

Multiple Choice

Which of the following statements is true of the obligations of a maker?

• A) The maker of a promissory note is secondarily liable for payment of it.
• B) The maker of a promissory note makes a conditional promise to pay a fixed amount of money.
• C) The obligation of the maker is to pay the negotiable instrument according to its terms at the time he issues it.
• D) The obligation of the maker is owed to an indorser, a person entitled to enforce the instrument.

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Definitions:

Crack

A potent form of cocaine that is smoked and known for its rapid, euphoric effects and high potential for addiction.

Amphetamines

A class of stimulant drugs that affect the nervous system and are used medically to treat conditions such as ADHD but can be addictive and are often abused.

Stimulants

Substances that increase activity in the body and brain, often enhancing alertness and physical performance.