Examlex
Which of the following statements about classes is NOT true?
Bearer
An individual in possession of an instrument, such as a check or bond, that is payable to whoever holds it.
Negotiable Instrument
A paper that assures the payout of a certain sum of money, either when requested or at a predetermined time, with the document specifying the person responsible for payment.
Holder In Due Course
A legal term for a person who has obtained a negotiable instrument in a valid manner and has certain protections against defenses and claims that could be asserted against the original party.
Certainty Of Payment
The assurance or guarantee that payment will be made, often a crucial consideration in financial transactions and agreements.
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