1. Is the following instrument a note, a check, or a draft? State WHY....

50.1K

Verified Solution

Question

Accounting

1. Is the following instrument a note, a check, or a draft? State WHY. To: Mary Sue Walton April 15, 2017 TEN DAYS AFTER DATE PAY TO THE ORDER OF: Sam Smith THE SUM OF: Ten thousand and no/100 DOLLARS SIGNED: Bradley Davis

2. If it is not a check, how would you have to change it to make it a check?

3. Is the following a negotiable instrument? Explain why it is a negotiable instrument or why it is not? "I owe Sam Smith the sum of $3000 for repairing the stucco on my house." signed Mary Sue Walton

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students