A Money Market Security Which Represents a Bank's Commitment to Pay

question 15

Short Answer

A money market security which represents a bank's commitment to pay a stipulated amount of money,on a specific future date,under specific conditions,and which is often used in international trade is known as a(n)________________________.

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Definitions:

Commercial Practices

Business activities, methods, and policies that are engaged in by entities involved in the buying, selling, and providing of goods and services.

Common Law

A legal system based on custom, court rulings, and past legal precedents rather than statutory laws.

Contract Law

The body of law that regulates the formation, performance, and enforcement of contracts between parties.

Sales Differ

Refers to the variation or discrepancy in sales outcomes, often used to analyze or report on different performance metrics.