Janet Wilson accepts an IOU from her employer in place of a paycheck. Wilson offers the IOU as payment for her groceries. Do you think the grocery store is likely to accept this type of payment?Why?
My answer: No, because an IOU is not a reliable source of payment. Am I correct?
business law - haha, Wednesday, June 20, 2012 at 3:35pm
Yes. The store will not accept an IOU as payment because it is not credible and can easily be forged.