Global Commerce Thrives in Peacetime

question 49

Essay

Global commerce thrives in peacetime.Explain why this statement is true.

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Definitions:

Bankrupt

A legal status of a person or entity that cannot repay debts to creditors and has sought relief through bankruptcy proceedings.

Postdated Check

A check written with a date in the future, preventing the check from being deposited or cashed until that date.

Properly Payable

Refers to checks or drafts that meet all criteria for payment by the bank on which they are drawn, in accordance with the account holder's instructions and the bank's agreement with the customer.

Refusing To Pay

Refusing to pay describes a situation where a party deliberately does not settle a financial obligation, debt, or bill owed to another.