Asked by Lauren Walsh on May 20, 2024
Verified
Notes and certificates of deposit are orders to pay money.
Certificates of Deposit
Fixed-term financial instruments issued by banks that offer a fixed interest rate in exchange for keeping the deposit untouched for a predetermined period.
Orders to Pay
Instructions typically issued by a debtor authorizing their bank to pay a specified amount of money to a creditor on a certain date.
- Determine the properties and types of negotiable instruments.
Verified Answer
KH
kerbres heromaMay 20, 2024
Final Answer :
False
Explanation :
Notes and certificates of deposit are promises to pay money, not orders to pay.
Learning Objectives
- Determine the properties and types of negotiable instruments.