Author Question: Bruce agrees to buy Joe's ranch. They draw up a note, under which Bruce is to pay Joe in three ... (Read 536 times)

yoooooman · **on:** Jun 24, 2018

Bruce agrees to buy Joe's ranch. They draw up a note, under which Bruce is to pay Joe in three installments, each payable on a specified date. Joe has concerns about Bruce's ability to pay on time, so he insists that the note include an acceleration clause. Such a clause would allow Joe to:
A) accelerate the sale of the ranch.
B)demand payment of the entire amount Bruce owes him if a certain event occurs.
C)extend the date of maturity on the note until a certain date in the future.
D)accelerate the statute of limitations in a case involving negotiable instruments

Question 2

Escrow instructions need not be in writing to be enforceable.
Indicate whether the statement is true or false