A Person Creates a Handwritten Instrument in Pencil on a Piece

question 37

Multiple Choice

A person creates a handwritten instrument in pencil on a piece of wrapping paper.The instrument is:

• A)negotiable even though it is handwritten.
• B)nonnegotiable because it is handwritten.
• C)nonnegotiable since it is written on a piece of wrapping paper.
• D)void.

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Definitions:

Reserve Clause

A term used in sports contracts allowing a team to retain the rights to a player after the contract expires.

Monopsony Power

A market condition where there is only one buyer for many sellers, giving the buyer significant control over prices and terms.

Antitrust Prosecution

Legal action taken against companies or entities suspected of engaging in practices that restrict competition, violating antitrust laws designed to protect free trade and competition.

Right To Work Laws

Legislation that prohibits agreements between labor unions and employers that make membership or payment of union dues or fees a condition of employment, either before or after hiring.