Examlex
All of the following are elements in the structure of the Fed EXCEPT the
IOU
An informal written document that acknowledges a debt owed.
Handwritten
Refers to text that has been written by hand, as opposed to being printed or digitally produced.
Negotiable Instrument
An official paper that obligates the payment of a fixed money amount, which can be demanded at any time or paid at a specific interval, with the document listing the responsible payer's name.
Words of Negotiability
Specific legal phrases or terms used in a financial instrument that indicate its transferability or negotiability.
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