A Sight Draft Allows the Payee of a Bill of Exchange

question 46

True/False

A sight draft allows the payee of a bill of exchange to receive payment immediately, whereas a demand draft only allows the payee to require the drawee to make payment within three days of presentation.

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Definitions:

Free Will

The concept that humans have the capability to make choices unconstrained by certain factors, essentially the ability to act at one's own discretion.

Duress

A situation where a person performs an act as a result of violence, threat, or other pressure against them, questioning the voluntariness of their actions.

Fraudulent Misrepresentations

False statements made knowingly, or without belief in their truth, or recklessly without caring for their truth, which are intended to induce another party to enter into a contract.

International Business

The exchange of goods, services, technology, capital, and/or knowledge across national borders and at a global or transnational life.