The Embargo Act of 1807 Had the Effect of

question 1

Multiple Choice

The Embargo Act of 1807 had the effect of

• A)provoking the British into war.
• B)crippling the American economy.
• C)enhancing the status of the Barbary states.
• D)easing tensions with Britain.

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Definitions:

Accommodation Surety

A guarantor who agrees to be responsible for someone else's debt or obligation without receiving any benefit.

Bonding Company

A company that provides financial assurance to a third party through a bond, guaranteeing the performance of an individual's or company's obligations.

Right of Reimbursement

The legal right to be compensated or repaid for costs, expenses, or losses that have been incurred on behalf of another party or as a result of certain conditions being met.

Promissory Note

A financial instrument or written promise in which one party agrees to pay a specified sum of money to another party under set conditions.