Asked by Hassaan Haider on Jul 04, 2024
Verified
Stating with certainty a fixed amount of money to be paid at the time an instrument is payable ensures that the value of the item can be determined with clarity.
Certainty
Refers to the assurance or confidence in the truth or occurrence of something without doubt.
Fixed Amount
A specific sum of money that does not change over time or with use, often referring to payments or charges.
Payable
Refers to an amount of money that is owed and should be paid, often within a specific period of time.
- Acquire knowledge about the legal framework pertaining to payment terms and conditions for negotiable instruments.
Verified Answer
JD
Jenna DonaldJul 09, 2024
Final Answer :
True
Explanation :
Stating a fixed amount of money ensures clarity in the value of the instrument, as it specifies exactly how much is to be paid, eliminating ambiguity regarding its value.
Learning Objectives
- Acquire knowledge about the legal framework pertaining to payment terms and conditions for negotiable instruments.