A company which issues a promissory note in lieu of payment for goods purchased
COMMERCE
JAMB 1999
A company which issues a promissory note in lieu of payment for goods purchased
- 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
Correct Answer: B. is bound to redeem the note for cash on due date
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