A Time Draft Is a Negotiable Instrument, Which Means That

question 91

Multiple Choice

A time draft is a negotiable instrument, which means that it

• A) has no value given the deferred nature of the document.
• B) is generally not preferred in international transactions.
• C) can be sold to an investor.
• D) is also known as a bill of lading.
• E) cannot be transferred.

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Definitions:

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Lippitt

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