Examlex
Which of the following does NOT cycle through an ecosystem?
Negotiable Instrument
A written promise or order to pay a specific sum of money that can be transferred to another holder.
Indorser
The person who signs and transfers a negotiable instrument, such as a check or promissory note, to another party.
Secondary Liability
The legal obligation to pay a debt if the primary obligor defaults, usually applied in cosigning contexts.
Blank Check
A check signed by the drawer with the amount left blank, allowing the payee to enter any amount.
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