Asked by taylor williams on May 08, 2024
Verified
A certificate of deposit is a ________ of the bank.
A) note
B) draft
C) novation
D) check
E) promissory contract
Certificate Of Deposit
A savings certificate with a fixed maturity date and specified fixed interest rate, issued by a bank to a depositor.
Bank
A financial institution licensed to receive deposits and make loans, offering various other financial services.
- Comprehend the prerequisites and roles of a certificate of deposit.
Verified Answer
KR
Kgato Retshidisitswe TlakeMay 13, 2024
Final Answer :
A
Explanation :
According to Uniform Commercial Code Section 3-104(j),a certificate of deposit is a note of the bank.
Learning Objectives
- Comprehend the prerequisites and roles of a certificate of deposit.