In Order for an Instrument to Be Negotiable,the Promise or Order

question 15

Multiple Choice

In order for an instrument to be negotiable,the promise or order to pay must be ________ and not ________.

• A)general; expressed
• B)specific; implied
• C)general; implied
• D)specific; expressed
• E)equivocal; affirmative

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Definitions:

Valuing

The process of estimating the worth or value of a business, asset, or investment.

Nonprofit

Organizations that are dedicated to furthering a particular social cause or advocating for a shared point of view, without the goal of generating profit for owners or investors.

Charitable

relating to or involving the giving of money, goods, or help to those in need without expecting anything in return.

Subsidized

Financial support provided, often by the government, to help reduce the cost of a service or commodity to the end user.