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The main cost that low inflation imposes on an economy is that low inflation
Indorser
A person who signs a negotiable instrument, such as a check, over to someone else, thereby making the recipient the legal owner of the document.
Secondary Liability
Legal responsibility of a third party for acts of another when that party has indirect involvement or benefits from the wrongful acts.
Without Recourse
A term indicating that the holder of a financial instrument cannot demand payment from the originator if the primary obligor defaults.
Holder In Due Course
A legal term for someone who has acquired a negotiable instrument in good faith for value and without notice of any defect.
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