Opal Signs a Promissory Note Payable to the Order of Payday

question 79

Multiple Choice

Opal signs a promissory note payable to the order of Payday Loan Company. The note states that it is payable "with interest at the legal rate." This note is

• A) negotiable.
• B) nonnegotiable, because it does not specify a rate of interest.
• C) nonnegotiable, because it is a promissory note.
• D) nonnegotiable, because it is payable only with interest.

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Definitions:

Design Stage

The phase in a project or process where the plans, specifications, and features of a product or structure are determined and laid out.

Basic Geometric Shapes

Simple forms such as circles, squares, triangles, and rectangles that are a foundational element of geometry.

Artistic Development

The process and stages of growth in creating, understanding, and appreciating art.

Motor and Cognitive Skills

Skills related to physical movement and mental processes respectively. Motor skills include tasks like walking, while cognitive skills involve tasks like thinking and problem-solving.