Which of the Following Instruments Is Negotiable

question 41

Multiple Choice

Which of the following instruments is negotiable?

• A)A note which states,"I promise to pay to the order of Karl Adams $1,000 if he replaces the roof on my garage."
• B)An instrument which provides,"Payment is subject to the terms of a mortgage dated November 20,2009."
• C)A note which contains the statement,"This note is secured by a mortgage dated August 30,2009."
• D)An instrument which reads,"I promise to pay to the order of MyHome Appliance Co.$550 sixty days after the delivery of my new refrigerator."

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Definitions:

Point Price Elasticity

A measure of how responsive the quantity demanded of a good is to a change in its price at a specific point on the demand curve.

Artichokes

A variety of thistle cultivated for its edible flower buds.

Toll Increase

A raise in the charges levied on travelers for using a particular stretch of road, bridge, or tunnel.

Point Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price at a specific point on the demand curve.