Examlex
Which of the following materials has the lowest perm rating?
Endorsement
The act of signing one's name on the back of a check or other negotiable instrument, or a public declaration of support for a person, product, or service.
Delivery
The act of transferring an item from the seller to the buyer, where the legal ownership is passed.
Transferability
The ability of a financial instrument, asset, or property right to be transferred from one party to another.
Instrument
A legal document formally recording a right, liability, or transaction.
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