Which of the Following Is NOT an Important Attribute of a Bankers

question 17

Multiple Choice

Which of the following is NOT an important attribute of a bankers' acceptance?

• A)makes an unconditional promise to pay the holder of the draft a stated amount on a specified day
• B)effectively substitutes its own credit for that of a borrower
• C)creates a negotiable instrument that may be freely traded
• D)offers the holder a binding agreement to repayment by the exporter if the importer defaults

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