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Which of the Following Statements Is True

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Which of the following statements is true?


Definitions:

Certificate Of Deposit

A document whereby a bank promises to pay a payee a certain amount of money at a future time.

Promise

A declaration or assurance that one will do something or that a particular thing will happen.

Accord

An agreement in the context of contract law where one party agrees to accept a substitute form of satisfaction from the other party.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on-demand or at a set time, with the payer named on the document.

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