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Which of the These Pairs Is Incorrectly Matched

question 73

Multiple Choice

Which of the these pairs is incorrectly matched?


Definitions:

Negotiability

The feature of a financial instrument that allows it to be transferred or assigned freely from one party to another.

Default

Failure to fulfill a legal obligation, especially failing to make a required payment on a loan or financial agreement.

Time Instrument

A financial document or negotiable instrument that promises payment of a certain sum of money at a future date, as opposed to on demand.

Payment

A financial transaction where money is transferred in exchange for goods or services.

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