-From Table 2.3, at the price of $2 there is a
Definitions:
Nonnegotiable
Refers to instruments or documents that cannot be transferred or assigned from one party to another by endorsement or delivery, limiting their exchangeability.
Additional Terms
Supplementary conditions or provisions added to a contract that were not mentioned in the original agreement but are negotiated before finalization.
Ambiguous Checks
Checks that contain unclear, vague, or undetermined information, leading to potential confusion about the drawer's intentions.
Default Rule
A legal principle that applies in the absence of an agreement to the contrary between the parties involved in a contract or transaction.
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