Which of the Following Instruments Is Nonnegotiable

question 19

Multiple Choice

Which of the following instruments is nonnegotiable?

• A)"I promise to pay to the order of Carol Reed $40,Jerry Jacobs."
• B)A statement in the instrument that it was given in payment of the previous month's rent.
• C)A statement in the instrument that it was given in payment of the purchase price of goods.
• D)"I promise to pay to the order of Meg Raven,at my option,$100 or five baskets of oranges,Dan Gilbert."

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Definitions:

Financial Statements

Written records that convey the business activities and financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Business Firm

An organization engaged in commercial, industrial, or professional activities, aiming to generate profits.

Work Product

Documents, materials, or information prepared by or for attorneys in anticipation of litigation, protected from disclosure.

Attorney-Client Privilege

A legal principle that keeps communications between a lawyer and their client confidential, encouraging open and honest discourse.