Examlex
Which of the following is NOT a correct observation?
Negotiable Instrument
A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.
Confession of Judgment
A legal agreement in which a debtor permits a creditor to obtain a judgment against them without a trial.
Undertaking
A formal pledge or promise, often in a legal context, indicating an agreement to perform a particular action or task.
Substitute for Cash
Refers to alternative forms of payment that are not physical cash, such as checks, credit cards, or electronic transfers.
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