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Cheng is in the process of using debt financing to fund his new venture.In this case,he is most likely to
Unconditional Promise
denotes a commitment or guarantee made without stipulating any conditions - the promisor must fulfill their obligation, regardless of external circumstances.
Requirements For Negotiability
The legal criteria that a document must meet to be considered negotiable, allowing it to be transferred or endorsed.
Contract Formed
The process of creating a legally binding agreement, requiring offer, acceptance, consideration, and mutual consent among parties.
Negotiable
Capable of being transferred or exchanged for value between parties, often referring to financial instruments like checks or bills of exchange.
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