Examlex
Which of the following statements about virtual teams is true?
Value
Under the Code (except for negotiable instruments and bank collections), generally any consideration sufficient to support a simple contract.
Qualified Indorsement
An endorsement on a negotiable instrument that limits the liability of the endorser or specifies particular conditions for the endorsement's validity.
Liability
A legal responsibility or obligation, often involving financial compensation, that arises from actions or agreements.
Payable to Cash
A term indicating that a check or draft is to be paid to the bearer or holder, making it easily transferable.
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