EZ Credit Company Signs an Instrument Payable to the Order

question 18

Multiple Choice

EZ Credit Company signs an instrument payable to the order of Fraser that states,"The maker of this note at the date of maturity,May 1,2013,can extend the time of pay?ment,but for no more than a rea?sonable time." This instrument is

• A)negotiable.
• B)nonnegotiable,because it includes an extension clause.
• C)nonnegotiable,because it is not payable within a definite time.
• D)nonnegotiable,because it is payable to a specific payee.

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Definitions:

Afferent;efferent

Afferent refers to conducting signals towards a central point (e.g., nerves that carry sensory information to the brain), while efferent refers to conducting signals away from a central point (e.g., nerves that carry motor signals from the brain to muscles).

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, governing both voluntary actions and involuntary responses.

Electrochemical Communication

The process by which neurons communicate with each other, involving electrical signals within neurons and chemical signals (neurotransmitters) between neurons.

Neurons

Electrically excitable cells in the nervous system that process and transmit information through electrical and chemical signals.