Examlex
The Jagged Edge Mountain Gear company provides an example of:
Debtor-Creditor Relationship
A financial relationship where one party (the debtor) owes a debt to another party (the creditor).
Drawee
The drawee is the party, usually a bank, required to pay the monetary amount stated on a draft or check upon its presentation.
Nonnegotiable
Unable to be bought, sold, exchanged, or transferred to another party.
Express Contract
A clearly stated agreement between parties, with terms explicitly mentioned either orally or in writing.
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