Julie Signs a Check Payable to the Order of Kwik

question 17

Multiple Choice

Julie signs a check payable to the order of Kwik Mart Stores, Inc., that does not include a date. This check is

• A) negotiable.
• B) nonnegotiable, because it does not include a date.
• C) nonnegotiable, because it is payable to Kwik-Mart.
• D) nonnegotiable, because it is signed by Julie.

---

Definitions:

Royalty

A payment made to the owner of certain types of rights, such as patents or copyrights, for the use of their property by others.

Licensing

The granting of permission by the owner of a product or service to another party to use the product or service under specified conditions.

Financial Liability

Any kind of obligation or responsibility to pay money to another party, including loans, accounts payable, and mortgages.

Intellectual Property

Legal rights that are granted to inventors and creators over their inventions, designs, and artistic works.