Which of the Following Is True of a Promissory Note

question 40

Multiple Choice

Which of the following is true of a promissory note?

• A) It is a three-party instrument.
• B) It is not an order to pay.
• C) The party who makes the promise is the lender.
• D) The payee cannot transfer a note to a third party.

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Definitions:

Fluid Intelligence

Fluid intelligence involves the capacity to think logically and solve problems in novel situations, independent of acquired knowledge, demonstrating the ability to analyze and adapt.

Perimenopause

The transitional period before menopause, characterized by changes in menstrual cycle, hormone levels, and the onset of menopausal symptoms.

Hormone Replacement Therapy

A medical treatment that supplements hormones to alleviate symptoms associated with hormonal imbalances or deficiencies, often used during menopause.

Fluid Intelligence

The capacity to solve novel problems, use logic in new situations, and identify patterns.