Chapter 25 LSUA- BLAW 3202 NEGOTIABLE INSTRUMENTS ASSIGNMENT FOR THURSDAY, FEB. 22, 2018.docx

Chapter 25 LSUA- BLAW 3202 NEGOTIABLE INSTRUMENTS ASSIGNMENT FOR THURSDAY, FEB. 22, 2018.docx

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ACCELERATION CLAUSE – Page 486 Allows a payee or other holder of a time instrument to demand payment of the entire amount due, with interest, if a certain event occurs, such as a default in payment of an installment when due. ACCEPTANCE – Page 477 Is the drawee’s written promise to pay the draft when it comes due. Usually, an instrument is accepted by writing the word accepted across its face, followed by the date of acceptance and the signature of the drawee. ACCEPTOR – Page 484 Is a drawee who has accepted or agreed to pay, an instrument when it is presented later for payment. BANKER’S ACCEPTANCE – Page 478 When a draft orders the buyer’s bank to pay. Are commonly used international trade. BEARER – Page 487 Refers to a person in possession of an instrument that is payable to bearer or indorsed in blank BEARER INSTRUMENT – Page 487 Is an instrument that does not designate a specific payee. CERTIFICATE OF DEPOSIT – Page 481
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