Asked by
Allison Poynter
on Dec 20, 2024Verified
An acceptor should always indicate on the instrument the amount accepted.
Acceptor
In the context of banking, the party who agrees to pay a bill of exchange upon its presentation, typically the drawee who becomes liable for payment.
Instrument
A legal document formally documenting a transaction or establishing a legal right or obligation.
- Understand the importance of specific endorsements and the liability they entail.
Verified Answer
EH
Learning Objectives
- Understand the importance of specific endorsements and the liability they entail.