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Using Darwin's Terminology, Herbert Spencer Argued That

question 102

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Using Darwin's terminology, Herbert Spencer argued that


Definitions:

Discounted Note

A debt instrument sold for less than its face value that will pay the face value at maturity.

Proceeds

Maturity value less bank discount.

Contingent Liability

Liability on the part of one who discounts a note if the maker of the note defaults at maturity date.

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