Instructions: Identify the Terms and Briefly State Their Historical Significance

question 9

Essay

Instructions: Identify the terms and briefly state their historical significance..
sati

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Definitions:

Payment

The transfer of money or goods from one party to another as compensation for goods or services provided or as a fulfillment of a legal obligation.

Maker

In financial terms, it refers to the entity that creates or issues a promissory note or draft.

Drawee

The party in a financial transaction who is directed to pay a certain sum, typically the bank on which a check is drawn.

Negotiable

Capable of being transferred or converted into goods, services, or money under terms agreeable to the involved parties.