MC Qu. 29-20 A is the party that give... . is the party that give the order and the is the party that must obey that order. Multiple Choice drawer, drawee payee, payer payer, payee drawee, drawer A negotiable instrument is a written document containing the signature of the creator that makes an unconditional promise or order to pay a sum certain of money Multiple Choice to a guarantor to a bank at either a time certain or on demand to a third party vendor as a promissory agreement What is meant by the term "delivery" in the process of negotiation? Multiple Choice The passing of a warranty that an instrument qualifies as a negotiable instrument. The physical handing of an instrument from someone entitled to it, to the person intended to receive it. The passing of a warranty that the instrument is collectible. The passing of a warranty that the recipient is a holder The passing of a warranty that the recipient is a holder in due course To effectuate the expectations of the parties to an agreement is the Multiple Choice reason behind contract law, to encourage a free-market society and greater financial security for the parties basic premise of contract law. reason behind contract law, to promote economic growth reason behind contract law, to promote commerce reason behind contract low, to promote Interstate commerce