Identify the laws specifically related to negotiable instruments (e.g., drafts, checks, promissory notes, certificates of deposit).
DefinitionIdentification should recognize that the negotiable instrument must
- be in writing and signed by the maker
- contain an unconditional promise or order to pay
- be payable in a specified sum of money
- be payable on demand or by a definite time
- be payable to the bearer or to someone’s order.
Related Standards of Learning
History and Social Science
The student will demonstrate skills for historical thinking, geographical analysis, economic decision making, and responsible citizenship by
- planning inquiries by synthesizing information from diverse primary and secondary sources;
- analyzing how political and economic trends influence public policy, using demographic information and other data sources;
- comparing and contrasting historical, cultural, economic, and political perspectives;
- evaluating critically the quality, accuracy, and validity of information to determine misconceptions, fact and opinion, and bias;
- constructing informed, analytic arguments using evidence from multiple sources to introduce and support substantive and significant claims;
- explaining how cause-and-effect relationships impact political and economic events;
- taking knowledgeable, constructive action, individually and collaboratively, to address school, community, local, state, national, and global issues;
- using a decision-making model to analyze the costs and benefits of a specific choice, considering incentives and possible consequences;
- applying civic virtues and democratic principles to make collaborative decisions; and
- communicating conclusions orally and in writing to a wide range of audiences, using evidence from multiple sources and citing specific sources.
Other Related Standards
FBLA Competitive Events and Activities Areas
Banking and Financial Systems
The topic for this event changes from year to year. The annual topic may or may not correlate with this particular course. Please refer to the current Virginia FBLA State Handbook.