Question: Match the definition / description to the correct term. - An order by one person to another person or to bearer. - A type of
Match the definitiondescription to the correct term.
An order by one person to another person or to bearer.
A type of instrument drawn by a drawer ordering the drawee bank or financial institution to pay a certain amount of money to the holder on demand.
A written promise by one party to pay a fixed sum of money to another party or to bearer on demand or on a specified date.
An instrument made by a bank acknowledging a deposit of funds made payable to the holder of such witha promise to repay that money with interest on a specified date.
Negotiable instrument that is payable to the order of an identified person or to an identified person or order
Instrument that is not payable to a specific person, including instruments payable to the one that possesses such or to cash
Payable at a definite future date.
Payable immediately after it is issued and for a reasonable period of time thereafter
Payable when presented to the drawee for payment.
Draft that is drawn by a seller of goods ordering the buyer to pay a specified sum of money to the seller, usually at a stated time in the future.
Promised future payment, or time draft, that is accepted and guaranteed by a bank and drawn on a deposit at a bank.
A signed writing that contains an unconditional promise or order to pay an exact sum of money, on demand or at an exact future time, to a specific person or order, or to bearer.
A
Promissory Note
B
Sight or Demand Draft
C
Check
D
Bearer Instrument
E
Draft
F
Certificate of Depsoit CD
G
Trade Acceptance
H
Demand Instrument
I.
Banker's Acceptance
J
Time Draft
K
Negotiable Instrument
L
Order Instrument
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