A company which issues a promissory note in lieu of payment for goods purchased
Question
A company which issues a promissory note in lieu of payment for goods purchasedOptions
A)
can refuse to pay ondue date since it is only a promise
B)
is bound to redeem the note for cash on due date
C)
is not bound to renew the note before payment
D)
can return the goods purchase and refuse to pay
The correct answer is B.
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