Asked by Gurwinder Bhullar on Jun 07, 2024
Verified
An accord is an additional piece of paper with endorsements that is firmly attached to the negotiable instrument.
Accord
An agreement in the context of contract law where one party agrees to accept a substitute form of satisfaction from the other party.
Negotiable Instrument
A written document guaranteeing the payment of a specific amount of money, either on-demand or at a set time, with the payer named on the document.
Endorsements
Refers to the act of signing one's name on the back of a check, bill of exchange, or similar document to transfer its ownership or to approve or support something.
- Recognize the requirements and conditions for the negotiability of instruments.
Verified Answer
Learning Objectives
- Recognize the requirements and conditions for the negotiability of instruments.
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