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Henry wanted to buy a sectional sofa with in-built recliners. He extensively researched sofas and consulted his friends before buying one. While making his final decision, he focused on features such as size, fabric, cushions, and padding and ignored irrelevant information such as popularity and decorative accessories. Which of the following factors enabled Henry to discount irrelevant information?
Maker
In financial terms, it refers to the entity that creates or issues a promissory note or draft.
Drawee
The party in a financial transaction who is directed to pay a certain sum, typically the bank on which a check is drawn.
Negotiable
Capable of being transferred or converted into goods, services, or money under terms agreeable to the involved parties.
Payable To Order
A clause on a financial document that specifies who can receive the payment, allowing the initial payee to endorse it over to another party.
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