Statements Requiring That Certain Things Be Done or That Specific

question 36

Multiple Choice

Statements requiring that certain things be done or that specific events take place before payment make the instrument a ___________ rather than commercial paper.

• A) simple contract
• B) statutory contract
• C) contingent contract
• D) specialty contract

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Definitions:

Alternate Dispute Resolution

A range of procedures such as mediation and arbitration used to resolve disputes without going to court.

Expensive

Describes an item or service that has a high cost or requires a significant amount of money to purchase or maintain.

Time Consuming

Requiring a great deal of time or effort to complete.

Federal Government

The federal government is the national government of a federated state, which holds the authority to govern based on a division of powers between it and the constituent regions or states.