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Arthur was asked to speak in front of a group of downtown business people during the noon hour. He noticed that as he spoke, one person appeared to be napping and another frowned during the entire presentation. "I'm not going to do that again," Arthur promised himself. "I am not a good public speaker!" Which of the following terms best reflects Arthur's perception of himself and his ability as a speaker?
Presentment Warranties
Guarantees made when presenting negotiable instruments, like checks, assuring the legitimacy and certain qualities of the instrument.
Instrument
A written legal document that officially records a legally enforceable act, process, or contractual obligation, arrangement, or right.
Promissory Note
A legal instrument in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms.
Primary Liability
Primary liability pertains to the direct and immediate obligation to fulfil a financial commitment or compensate for a loss.
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