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Negotiable Instrument
An official document that assures the payment of a fixed sum of money, payable either on demand or at a designated time, with the document bearing the name of the person obligated to pay.
Letter of Credit
A financial document issued by a bank that guarantees a buyer's payment to a seller within a specified timeframe.
Certificate of Deposit
A time-bound deposit held at a bank or financial institution that offers a fixed rate of interest.
Consideration
The value, usually in the form of money, goods, or services, exchanged in a contract between parties.
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