Negotiable instruments serve two vital commercial purposes:
A) an express warranty and personal services
B) an express and an implied warranty
C) a substitute for money and an implied warranty of fitness for a particular purpose
D) a substitute for money and financing

Question

Quizplus · Accepted Answer

Negotiable instruments, such as checks, promissory notes, and bills of exchange, primarily serve as a substitute for money, facilitating transactions without the need for physical cash. Additionally, they are used for financing purposes, allowing for the extension of credit and the deferral of payment.

Negotiable Instruments Serve Two Vital Commercial Purposes