Examlex
Select the sentence with more concise language.
Real Defense
A liability defense that applies universally to all parties.
Drawee
The person or entity upon whom a check or draft is drawn and is responsible for paying the amount specified.
Presentment
The formal presentation of a financial instrument, such as a check or draft, for payment or acceptance.
Transfer Warranties
Legal assurances provided by a seller about the quality and ownership of goods being sold, particularly that the goods are free from any security interest or other lien not disclosed at the time of sale.
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