Identify and State the Historical Significance of the Following

question 4

Short Answer

Identify and state the historical significance of the following:
-assumption

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the ability to be transferred to another party.

Significant Effects

Impacts or changes that are considerable in size, importance, or consequence in a specific context or situation.

Individual Capacity

Acting on one’s own behalf, involving personal rights or responsibilities, rather than on behalf of a group or a corporate entity.

Liability

The state of being legally responsible for something, typically a debt or obligation.