Ewa signs an instrument unconditionally promising to pay to "Sunny State Bank" $5,000 with interest in installments with the fin

Question

MissTica

4 years ago

14

Ewa signs an instrument unconditionally promising to pay to "Sunny State Bank" $5,000 with interest in installments with the fin

al payment due June 1, 2013. Refer to Fact Pattern 24-2B. The instrument that Ewa signed is most likely

Business

1 answer:

zavuch27 [327] · Answer 1 · 2022-02-13T07:16:38+03:00

Answer:

a promissory note

Explanation:

Based on the information provided within the question it can be said that the instrument that Ewa signed is most likely a promissory note. This is a not that enforces an unconditional promise, from one individual to another promising to make a certain payment in a certain time period. Which is exactly what EWA is signing when agreeing to pay $5,000 with interest in installments with the final payment due June 1, 2013.