Petes Manufacturing is hesitant to extend trade credit to Ramon Drake. Instead, Ramon agrees to sign a promissory note. Petes prefers this note because
A. it specifies when the goods will be delivered.
B. the money will still be paid if Brendan declares bankruptcy.
C. it is a legally binding and enforceable agreement.
D. it is a form of commercial paper.
E. it will receive the money from Brendan much sooner.
Answer: C
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