Asked by
Tomorrow Rhymes
on Dec 18, 2024
Verified
A check is always a[n] ________ instrument and can never be a[n] ________ instrument.
A) Time; demand
B) Demand; order
C) Time; order
D) Order; bearer
E) Demand; time
Demand Instrument
A financial document or security that requires payment of the specified amount on demand by the holder, without specifying a particular time for repayment.
Bearer Instrument
A negotiable financial instrument that is not registered in anyone's name and can be transferred from one person to another by possession.
- Understand the basic definitions and classifications of negotiable instruments.
Verified Answer
BL
Learning Objectives
- Understand the basic definitions and classifications of negotiable instruments.
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