Sunday, February 24, 2019

When a note payable is exchanged for property, goods, or services, the stated interest rate is presumed to be fair unless

When a note payable is exchanged for property, goods, or services, the stated interest rate is presumed to be fair unless



a. no interest rate is stated.
b. the stated interest rate is unreasonable.
c. the stated face amount of the note is materially different from the current cash sales price for similar items or from current market value of the note.
d. any of these.


Answer: any of these

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