Examlex
B2B e-commerce is second in size to B2B e-commerce.
Drawee
The party that must obey an order. In the context of banking, the drawee is the bank that must pay the funds ordered by a customer’s check.
Negotiable Instrument
A written document guaranteeing the payment of a specific amount of money to a specified person, which can be transferred by endorsement or delivery.
Dishonored
A term used to describe a financial instrument, such as a check or promissory note, that has been refused acceptance or payment.
Personal Defense
A liability defense that is not applicable to holders in due course.
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