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Pursuant to the Bills of Exchange Act

Question 47

Multiple Choice

Pursuant to the Bills of Exchange Act


A) any negotiable instrument used to advance credit in a consumer transaction must be marked "Consumer Purchase".
B) floating charges are automatically issued against the general assets of a corporation.
C) certified cheques have been replaced by letters of credit.
D) cheques are now considered to be legal tender.
E) promissory notes must now be executed by more than one signatory prior to transfer to a holder in due course.

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