A Banker's Acceptance Is Created When

question 84

Multiple Choice

A banker's acceptance is created when

• A)is a document issued by the common carrier specifying that it has received the foods for shipment; it can serve as title to the goods.
• B)after taking title to the goods via a bill of lading, the importer's bank accepts the time draft.
• C)a time draft that calls for payment upon physical delivery of goods matures.
• D)none of the above

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Definitions:

Revolutionary War

The conflict between Great Britain and its thirteen American colonies from 1775 to 1783 that resulted in the colonies gaining independence and forming the United States of America.

Negotiations

The process by which two or more parties aim to reach a mutual agreement through dialogue and compromise on a matter of mutual interest.

Treaty of Fort Stanwix

A 1768 agreement between Native American nations and British colonists, establishing boundary lines in what is now the United States.

Iroquois Confederacy

The Iroquois Confederacy, also known as the Haudenosaunee or Six Nations, was a powerful and influential alliance of six Native American tribes primarily located in the northeastern United States and southeastern Canada.