A draft is an unconditional order by one person (the drawer) directing another person (drawee or payor) to pay money to a named third person or to bearer.
Correct Answer:
Verified
Q14: The indorser is one who transfers ownership
Q15: Bank acceptance of a check is called
Q16: A promissory note does not effectively gain
Q17: A negotiable instrument not payable to a
Q18: An instrument payable to order is one
Q20: Banker's acceptance is a short-term credit investment
Q21: Which of the following is not necessary
Q22: The Uniform Commercial Code defines a _
Q23: A _ calls for payment on a
Q24: Of the following, who can become an
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