Asked by
Brylee Pritchett
on Dec 18, 2024Verified
If a third party never becomes involved in the transaction, it does not matter whether an instrument may be considered negotiable.
Third Party
An entity that is not directly involved in a legal transaction or agreement but may be affected by it or have an interest in it.
Negotiable
Refers to a document or contract containing a promise to pay a specified amount, which can be transferred or sold to another party.
Instrument
A legal document formally expressing a certain action, decision, or obligation.
- Recognize the legal implications of negotiable instruments in commercial transactions.
Verified Answer
JG
Learning Objectives
- Recognize the legal implications of negotiable instruments in commercial transactions.