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A firm that has a first-mover advantage over rival firms is likely to be a leader in the market.
Discharged
Released from liability for a negotiable instrument.
Negotiable Instrument
A written, transferable document signed by the maker or drawer, containing an unconditional promise or order to pay a specified amount of money on demand or at a set time.
Material Alteration
A significant change or modification to a document or item that changes its legal effectiveness or meaning.
Holder In Due Course
A person who has acquired a negotiable instrument in good faith for value and without notice of any defects.
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