What determines if a negotiable instrument is payable on demand?
Negotiatiable Instrument - Payable on Time or on Demand

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Business, Social Studies
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University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A specific date mentioned on the instrument
The holder's request for payment
The issuer's discretion
The bank's approval
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If an instrument lacks a clear indication of payment terms, what is it generally assumed to be?
Non-negotiable
Payable on time
Invalid
Payable on demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can cause an instrument to lose its negotiability?
Lack of a specified payment date
Presence of an acceleration clause
Being payable on demand
Having a prepayment option
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under what condition does a payable on time instrument remain negotiable?
When the date is reasonably ascertainable
When it is issued by a bank
When it has no clauses
When it is payable on demand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Do acceleration clauses affect the negotiability of an instrument?
Yes, they make it non-negotiable
Only if they are combined with prepayment clauses
No, they do not affect negotiability
Only if they are not clearly stated
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