Fact Pattern 24-2A (Questions A3-A4 Apply)

question 12

Multiple Choice

Fact Pattern 24-2A (Questions A3-A4 apply)
Commodity Sales Corporation and Resource Purchasing Company enter a contract for a sale of unprocessed silver.Commodity Sales draws a draft unconditionally ordering Resource Purchasing to pay $50,000 to Commodity Sales's order in sixty days.Resource Purchasing signs and dates the draft.
-Refer to Fact Pattern 24-2A.This instrument is

• A)a banker's acceptance.
• B)a nonnegotiable instrument.
• C)a promissory note.
• D)a trade acceptance.

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Definitions:

Tinea

A fungal infection of the skin, also known as ringworm, which manifests as scaly, itchy patches.

Fungal Condition

A health issue caused by fungal infections, affecting various parts of the body and ranging in severity.

Onychia

An inflammation of the nail bed resulting in pain, swelling, and sometimes loss of the nail.

Nail Bed

The skin beneath the nail plate that provides nourishment and support for nail growth.