bus 263 ch 22

Gwen deposits $5,000 with Home Bank on July 1, 2018. Home Bank promises to repay Gwen the $5,000 plus 1 percent annual interest on July 1, 2023. Home Bank has issued Gwen

a certificate of deposit.

Petra signs a check payable to Quincy, who indorses the back, gives it to Regional Credit Union, and receives cash. The transfer of the check from Quincy to the credit union is

a negotiation.

Emily writes and signs a check payable to "Festival Cinema." Georg, Festival's manager, indorses the check "For deposit only." This is

a restrictive indorsement.

Rico agrees to buy a bicycle from Salvatore for $250. Salvatore agrees to deliver the bike on September 1. Rico writes a draft for $250 payable to Salvatore on September 1. This is

a time draft.

Quincy draws a check payable to "Replay Stadium" to buy two season tickets to the next year's State College football games. This instrument is

an order instrument.

To obtain office supplies for Doctors Medical Clinic, Emma executes a draft in favor of Floyd. A draft is

an unconditional written order to pay money.

Jane signs an instrument using a "J" with a swirl around it. With this mark for a signature, the instrument is

negotiable.

To finance the purchase of an electric guitar, Milos signs an instrument promising to pay to "National Lenders" $1,800 with interest in installments with the final payment due August 15, 2020. To be negotiable, this instrument must include on its face

not any conditional promises or orders to pay.