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Match Each Term with a Statement Below

question 44

Multiple Choice

Match each term with a statement below.

-Contains identifying information about the method


Definitions:

Negotiability

The quality of a financial instrument that allows it to be transferred or assigned from one party to another with ease.

Unconditional Promise

A commitment to act or refrain from acting in a certain manner that does not rely on any conditions or occurrences for its fulfillment.

IOU

An informal document that acknowledges a debt owed by one party to another, but not necessarily specifying repayment terms.

Acknowledging A Debt

An act by which a debtor recognizes their debt and reaffirms their obligation to pay it, often to prevent the statute of limitations from expiring.

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