1. If the description of interest in the instrument does not allow the amount of interest to be ascertained, then interest is payable at the:

Group of answer choices

variable rate.

judgment rate.

fixed rate.

order rate.

2.

A(n) ________ can be negotiated or transferred by delivery of possession without endorsement.

Group of answer choices

cashier's check

bearer paper

order paper

teller's check

3.

Which of the following is nonnegotiable?

Group of answer choices

A draft payable "15 days after sight."

A note that does not state any other undertaking by the person promising to do any act in addition to the payment of money.

A note with a clause permitting the time for payment to be accelerated at the option of the maker.

A note that is payable "when the interest rate on 30-year treasury bonds reaches 10 percent."