Describe the ways in which a bill or note can be paid
What will be an ideal response?
For a bill or note to function reliably in commerce, the time when it is payable has to be on demand or ascertainable from its face. The time requirement actually serves several functions. It tells the maker, drawee, accommodation maker, or acceptor when he is required to pay. It allows secondary parties, such as drawers, endorsers, and accommodation endorsers, to determine the date when their obligations arise. It establishes when the statute of limitations will run. And finally, with interest bearing bills or notes, it defines the period for calculating the present value of the instrument.
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The higher a company's debt ratio, the lower the risk of a company not being able to pay its debts.
Answer the following statement true (T) or false (F)
In India, Hindu law is applied to most commercial transactions
a. True b. False Indicate whether the statement is true or false
UCC Section 2-204 provides three important rules that enable parties to make a contract quickly and informally. Which of the following is NOT one of these rules?
A. The parties may make a contract in any manner sufficient to show that they reached an agreement. B. A writing sufficient under the Statute of Frauds may be a simple memo, a letter, or informal note, but need not itself be a contract. C. The UCC will enforce a deal even though it is difficult to say exactly when it was formed. D. A court may enforce a bargain even though one or more terms were left open.
A software tool used to automate one or more steps of a software development methodology is referred to as:
A) RAD. B) Piloting. C) JAD. D) CASE.