Asked by
Jeffrey Molands
on Nov 27, 2024
Verified
The holder of a note who needs the funds owed on it can transfer it for cash to a third party, whom the maker must pay when the note comes due.
Holder
An individual or entity that legally possesses a financial instrument, such as a check, bond, or stock certificate.
Transfer
The act of moving or conveying something from one person, place, or situation to another.
Note
A note is a brief record of facts, topics, or thoughts, written down as an aid to memory.
- Absorb the elementary criteria for the facilitation of checks and negotiable instruments' negotiation.
- Define the responsibilities and positions of the entities participating in the generation, trade, and settlement of negotiable instruments.
Verified Answer
TL
Learning Objectives
- Absorb the elementary criteria for the facilitation of checks and negotiable instruments' negotiation.
- Define the responsibilities and positions of the entities participating in the generation, trade, and settlement of negotiable instruments.
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