Which of the Following Does Not Satisfy the Requirement That

question 9

Multiple Choice

Which of the following does not satisfy the requirement that to be negotiable an instrument must be payable at a time certain or on demand?

• A) The instrument states a specific date for payment.
• B) The instrument is dated and then states that "payment will be made 5 days after the above date."
• C) An instrument that states that payments is due at a fixed time but may be extended at the election of the holder.
• D) An instrument that states that "payment will be made 10 days after delivery of the goods."
• E) An instrument that permits acceleration of payment and has a fixed date of payment if the acceleration clause is not affected.

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Definitions:

Interindustry Competition

Competition between firms that are in different industries but may target similar markets or customer needs.

Aluminum Industry

Sector of the economy focused on the production, processing, and distribution of aluminum, a lightweight and versatile metal.

High Concentration Ratio

An economic measurement indicating that a large portion of market share is controlled by a few firms, often pointing to a lack of competition within an industry.

Competitive

A market structure characterized by a large number of firms or sellers where each has a small proportion of market share and there is free entry and exit from the market.