A Check Is Always A[n] ________ Instrument and Can Never

question 14

Multiple Choice

A check is always a[n] ________ instrument and can never be a[n] ________ instrument.

• A)Demand;order
• B)Demand;time
• C)Order;bearer
• D)Time;demand
• E)Time;order

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Definitions:

Conditional Contracts

Agreements that become enforceable only upon the occurrence of specified conditions.

Sale-On-Approval Contracts

Contracts that allow buyers to take possession of goods before deciding whether to complete the purchase, often used in sales where inspection is necessary.

Condition-Or-Sale Contracts

Agreements that stipulate the sale of goods is dependent on certain conditions being met, often used to protect the interests of the seller.

UCC

The Uniform Commercial Code, a set of laws that govern commercial transactions in the United States.