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Technical innovations that made sailing easier in the fourteenth and fifteenth centuries included
Installments
Payments divided over a period of time for a debt or purchase, rather than paying the total amount upfront.
Default
Failing to fulfill a legal obligation, such as not making a scheduled payment on a loan.
Negotiable Instrument
An official paper that promises the disbursement of a designated sum of money, which can be demanded at any time or paid at an agreed-upon moment, identifying the payer.
Given Value
The consideration or price paid for something; often used in the context of transactions or agreements to denote the value exchanged.
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