Examlex
Which of the following statements about ELB is false?
Bearer Instrument
A type of negotiable instrument (such as a bond or check) that is payable to whomever has possession of the instrument, making them the owner.
Order Instrument
A financial document that is payable to a specific person or entity and can be transferred by endorsement or delivery.
Traveler's Check
A preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.
Instrument
A formal document, especially one that legally records a fact, act, or agreement.
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