Use This Figure for the Questions That Follow

question 155

Multiple Choice

Use this figure for the questions that follow.

-What goal did the Treaty of Tordesillas accomplish?

• A) divided South America between Spain and Portugal
• B) ended the Spanish-American War
• C) established the North American Free Trade Agreement (NAFTD) ended the Mexican revolution of 1910
• E) gave possession of Puerto Rico to the United States

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Definitions:

Interest Accrued

Interest that has been earned but not yet paid.

Without Recourse

A term indicating that the holder of a financial instrument cannot demand payment from the original issuer or underwriter in the event of non-payment by the borrower.

Qualifying Words

Words in a legal document that specify conditions or modify the meaning of other words to which they apply.

Accommodation Party

An Accommodation Party is an individual or entity that signs a negotiable instrument on behalf of another, guaranteeing payment without receiving a direct benefit.