When the Maker of a Note Is Unable or Refuses

question 90

Short Answer

When the maker of a note is unable or refuses to pay at maturity, the note is said to be ________.

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Definitions:

Schedule of Reinforcement

A strategy in behavioral psychology detailing how and when responses will be rewarded.

Operant Conditioning

A learning strategy that involves the use of positive reinforcement and consequences for actions.

Fixed Interval

A schedule of reinforcement where the first response is rewarded only after a specified amount of time has elapsed.

Negative Reinforcement

A type of operant conditioning that involves the removal of an unpleasant stimulus to increase the likelihood of a behavior being repeated.