1. Employer made Valuable Employee a loan of $12,000 so that Valuable could pay his tuition at Local University. The note called for the loan to be repaid within 12 months. The note also contained a provision that allowed Valuable to take an additional 6 months to pay the $12,000 "if Valuable needs extra time." This clause in the note is a (n) ___________clause a. allonge b. extension c. acceleration d. punitive 2. To be negotiable, an endorsement on an instrument must convey: a. The entire instrument or unpaid balance. b. A least one-half of the instrument or unpaid balance c. The unpaid balance plus the statutory rate of interest d. The unpaid balance plus reasonable attorneys fees 3. To be negotiable, commercial paper must be certain with respect to: a. The amount of money which is promised to be paid. b. Future negotiations between the parties. c. Prior agreements between the parties. d. The extent of attorneys fees if collection proceeding are needed. 4. The drawer of a check makes an implicit promise that he or she will pay the holder of the check if it is dishonored after proper presentment and notice is given. This promise is termed the drawer's____________. a. Warranty b. Contract c. Accommodation d. Guarantee