Final exam.docx - CHAPTER 25 ACCELERATION CLAUSE Page 486...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 25 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. BANKER’S ACCEPTANCE – Page 478 When a draft orders the buyer’s bank to pay. BEARER INSTRUMENT – Page 487 Is an instrument that does not designate a specific payee. CERTIFICATE OF DEPOSIT – Page 481 Is a type of note issued when a party deposits funds with a bank, and the bank promises to repay the funds, with interest, on a certain date. DRAFT – Page 477 Is an unconditional written order that involves three parties. DRAWEE – Page 477 The party that is ordered to pay a draft or check. With a check, a financial institution is always the drawee. ORDER INSTRUMENT – Page 486 Is an instrument that is payable, to the order of an identified person, or to an identified person or order. PAYEE – Page 477 A person to whom an instrument is made payable.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern