Discuss the effect on an instrument of: (a) contradictory amounts between the numerals and amount written in words on a check; (b) the interest rate left blank on a promissory note; and (c) contradictory terms that are typed or printed onto a promissory note and terms that are handwritten
Rather than invalidating the defective documents, the UCC favors negotiability and provides rules to resolve uncertainty and supply missing terms. In situation (a), where terms in a negotiable instrument contradict each other, words take precedence over numbers. In situation (b), the UCC provides that the judgment rate applies. The judgment rate is the rate that courts use on court-ordered judgments. In situation (c), handwritten terms prevail over typed and printed terms.
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Which one of the following is an advantage of a relational database?
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The drawback of a just-in-time inventory system is that it leaves a firm with excess unsold inventory that it has to write off against earnings or price low to sell
Indicate whether the statement is true or false.