Examlex
Restricting the implementation to a pilot site increases the risk of system failure, compared with a direct cutover method, and operating both systems for only the pilot site is more expensive than a parallel operation for the entire company.
Maker
A person obligated as the payor on a promissory note. See also comaker.
Bearer Note
A type of fixed-income security that is not registered by the issuer, allowing any holder in possession to collect on it.
Draft
A preliminary version of a document or plan that is subject to revisions or editing.
Holder in Due Course
A legal term referring to a party that has acquired a negotiable instrument, like a check, in good faith and has the right to collect the face value of the instrument without any defenses.
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