Which of the Following Is True Regarding Negotiable Instruments as Compared

question 34

Multiple Choice

Which of the following is true regarding negotiable instruments as compared to contracts?

• A)Similar to contracts,negotiable instruments require offer and acceptance;but unlike contracts,negotiable instruments do not require consideration.
• B)Negotiable instruments lack the requirements of contracts involving consideration,offer,and acceptance.
• C)Negotiable instruments require the same elements as contracts in regard to consideration,offer and acceptance.
• D)Similar to contracts,negotiable instruments require consideration.
• E)A negotiable instrument is a form of a contract and may be referred to as such.

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Definitions:

Legislation

Laws or legal enactments made or enacted by a governing body or legislature.

1764

A year marked by significant events including the British Parliament's passage of the Sugar Act, which was a revenue-raising effort that contributed to the American Revolutionary War.

Printing

The process of producing text and images, typically with ink on paper, using a press machine or similar technology.

Paper Money

A form of currency issued by governments and banks that is used as a medium of exchange.