Asked by Stephanie Nieto on Apr 24, 2024
Verified
With a(n) ________ instrument,payment can be made only at a specific time designated in the future.
A) time
B) demand
C) recourse
D) non-recourse
E) immediate
Specific Time
Denotes a precise moment or period that is identified for the occurrence of an event or action.
Non-Recourse
Pertaining to a loan or obligation where the lender's recovery, in the event of default, is limited to the collateral securing the loan, with no further claim on the borrower’s assets.
- Identify the differences between demand instruments and time instruments, along with their consequences.
Verified Answer
TP
Tereza PerezMay 02, 2024
Final Answer :
A
Explanation :
With a time instrument,payment can be made only at a specific time designated in the future.
Learning Objectives
- Identify the differences between demand instruments and time instruments, along with their consequences.
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