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What did the moral philosopher Adam Smith mean by his invisible hand theorem?
Interest Accrued
Interest that has been earned but not yet paid.
Without Recourse
A term indicating that the holder of a financial instrument cannot demand payment from the original issuer or underwriter in the event of non-payment by the borrower.
Qualifying Words
Words in a legal document that specify conditions or modify the meaning of other words to which they apply.
Accommodation Party
An Accommodation Party is an individual or entity that signs a negotiable instrument on behalf of another, guaranteeing payment without receiving a direct benefit.
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