An Instrument That Is "Payable on Presentment" Is Payable on Demand

question 34

True/False

An instrument that is "payable on presentment" is payable on demand.

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Definitions:

Provision

The act of supplying or making available goods or services in the market.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available for everyone to consume without reducing the amount available for others.

Marginal Social Benefit

The additional benefit to society from the consumption of an additional unit of a good or service.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that no one can be excluded from their use and one person's use does not reduce availability to others.