Under the UCC an Instrument "Payable on Demand" as One

question 59

Multiple Choice

Under the UCC an instrument "payable on demand" as one that ____________

• A) States that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder.
• B) Does not state any time of payment.
• C) Is payable within ten days after presentment.
• D) States that it is payable on demand or at sight or otherwise indicates that it is payable at the will of the holder, or does not state any time of payment.
• E) States that it is payable on demand or at sight, otherwise indicates that it is payable at the will of the holder; does not state any time of payment; or is payable within ten days after presentment.

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Definitions:

Constant-cost Industry

An industry in which the input costs do not change as the industry's output changes, leading to a flat supply curve.

Demand Increase

A situation where the desire for a good or service exceeds the previous level at the current price.

Market Equilibrium

The point at which the quantity demanded by consumers equals the quantity supplied by producers, resulting in no economic pressure to change the price.

Scarce Inputs

Resources or factors of production that are limited in supply, which constrains economic output and allocative efficiency.