Both Drafts and Promissory Notes May Have the Quality of Negotiability

question 26

True/False

Both drafts and promissory notes may have the quality of negotiability.

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Definitions:

General Agreement on Tariffs and Trade

An international treaty that aimed to reduce tariffs and other trade barriers, leading to the establishment of the World Trade Organization.

Import Quotas

Restrictions set by the government on the amount or monetary worth of products allowed into a nation, aimed at shielding local businesses from overseas rivals.

Increased-Domestic-Employment

A situation where the number of jobs within a country rises, often as a result of economic growth or policies.

Net Exports

The value of a country's total exports minus the value of its total imports; it can be a positive number (trade surplus) or a negative number (trade deficit).