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You spend days wandering aimlessly around a park with many different paths that end at different parts of the park.One day when you arrive at the park you get a call on your cell phone from your cousin whom you have not seen for years,and she says she is waiting for you in a particular section of the park.Even though the paths are complicated and twisted,you manage to find the shortest route to your cousin.Tolman would explain your efficient passage through the park as an example of ____________.
Payable to Order
A phrase indicating that a financial instrument, such as a check, is transferable to a specific person or entity mentioned in the document.
Negotiable
Referring to the ability of the terms of an agreement, document, or financial instrument to be adjusted or transferred in accordance with all parties' consent.
Certificates of Deposit
Financial instruments issued by banks that offer a fixed interest rate in exchange for keeping deposited funds untouched for a predetermined period.
Nonnegotiable
Pertaining to a term, condition, or instrument that cannot be altered or bargained upon, often legally or contractually fixed.
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