Asked by
n0limitQuan n0limitVibes
on Nov 27, 2024
Verified
A check is not a demand instrument, because by definition a check is not payable for a period of time after its issue.
Demand Instrument
A financial instrument that is payable immediately upon demand, such as a check or certain promissory notes.
Definition
A precise statement or description of the nature, scope, or meaning of something.
Check
A draft drawn by a drawer ordering the drawee bank or financial institution to pay a certain amount of money to the holder on demand.
- Acquire knowledge on the fundamentals of demand instruments and their intrinsic property of immediate settlement.
Verified Answer
HB
Learning Objectives
- Acquire knowledge on the fundamentals of demand instruments and their intrinsic property of immediate settlement.