Examlex
Which of the following statements is TRUE?
Negotiable Instrument
A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee’s name written on the document.
Negotiability
The characteristic of a financial instrument that allows it to be transferred or assigned from one party to another, facilitating commerce and trade.
Electronic Deposit
The transfer of funds directly into a bank account, eliminating the need for physical checks.
Certificate of Deposit
A savings certificate with a fixed maturity date and specified fixed interest rate that is issued by a bank.
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