Utme 2024 Commerce Question 37

Practice objective / multiple choice question 37 from the 2024 Utme Commerce examination. This question covers Business Law .

Utme 2024 Commerce Objective / Multiple Choice 3 Difficulty

Topic: Business Law

Question 37 UTME • 2024 • COMMERCE • objective

A company which issues a promissory note in lieu of payment for goods purchased

Correct Answer A. is bound to redeem the note for cash on due date

B. is not bound to renew the note before payment

C. can return the goods purchased and refuse to pay

D. can refuse to pay on the due date since it is only a promise

Correct Answer

Correct Option:

is bound to redeem the note for cash on due date

This is Utme 2024 Commerce Question 37. It is one of the objective questions from the 2024 Utme Commerce examination.

The question covers Business Law .

Difficulty level: 3 .

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