Examlex
Which of the following is a subset of Set A if Set A is {19 4 26 8}?
Instrument
In legal and financial contexts, a formal document, such as a contract, will, or security, that has a legal effect or is meant to convey rights or obligations.
Original Payee
The initial recipient to whom a financial instrument, such as a check or promissory note, is made payable.
Revised Article 3
An update or modification to Article 3 of the Uniform Commercial Code (UCC), which governs negotiable instruments including checks and promissory notes.
Holder by Negotiation
Holder by negotiation refers to a person who has obtained possession of a negotiable instrument, such as a check, in a manner consistent with the statute's requirements for transfer, thereby acquiring the right to payment.
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