A promissory note does not effectively gain value by reason of its assignability.
Correct Answer:
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Q11: A time draft calls for payment "on
Q12: The Promissory Notes Act prohibits an assignee
Q14: The indorser is one who transfers ownership
Q14: A check is a draft payable on
Q15: Bank acceptance of a check is called
Q17: A negotiable instrument not payable to a
Q18: An instrument payable to order is one
Q19: A draft is an unconditional order by
Q20: Banker's acceptance is a short-term credit investment
Q21: Which of the following is not necessary
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