Banker's Acceptances Are Used to Finance Only International Trade Receivables

question 68

True/False

Banker's acceptances are used to finance only international trade receivables but not domestic trade receivables.

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Definitions:

Tangible Personal Property

Physical items that can be owned and have value, such as furniture, jewelry, and vehicles.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.

Simple Contract

An agreement made between parties that does not necessarily have to be in writing but is binding and enforceable by law.

Bailment

The transfer of personal property by its owner to another person with the understanding that the property will be returned to the owner in the future.