A note payable is in the form ofA) a contingency that is reasonably likely to occur.B) a written promissory note.C) an oral agreement.D) a standing agreement.

Question

A note payable is in the form ofA)  a contingency that is reasonably likely to occur.B)  a written promissory note.C)  an oral agreement.D)  a standing agreement.

Elijah Mckoy · Accepted Answer

Final Answer : B, Explanation :  A note payable is a written promissory note between the borrower and the lender, which states the borrower's promise to pay a certain amount of money with interest at a specific date or on demand.

A note payable is in the form of

A) a contingency that is reasonably likely to occur.
B) a written promissory note.
C) an oral agreement.
D) a standing agreement.

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