Figure 1.2
Using the figure above, identify the labeled part.
-Label V: ______________________________
Definitions:
Corporation
A legal entity recognized by law as separate from its owners, with its rights and liabilities, capable of conducting business, entering contracts, and owning assets.
Indorsers
Individuals or entities that sign a document (often a negotiable instrument like a cheque) on the back to signify their agreement to transfer title or to guarantee its terms.
Contractually Liable
A state of being legally obligated by the terms of a contract to perform certain duties or compensate for failure to do so.
Negotiable Instruments
Negotiable instruments are formal financial documents (such as checks, promissory notes, and bills of exchange) that promise to pay a specified amount of money to a person in possession of the instrument under certain conditions.