A company which issues a promissory note in lieu of payment for goods purchased
COMMERCE
JAMB 2018
A company which issues a promissory note in lieu of payment for goods purchased
- A. Is not bound to renew the note before payment
- B. Can return the goods purchased and refuse to pay
- C. Can refuse to pay on due date since it is only a promise
- D. Is bound to redeem the note for cash on due date
Correct Answer: D. Is bound to redeem the note for cash on due date
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