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Business Law II
Credit, Bankruptcy, Commercial Paper
Term | Definition |
---|---|
Blank Endorsement | an endorsement that consists of the endorser's signature only |
Certificate of Deposit | the promise of a bank to repay with interest a deposit of money at a definite future date |
Check | draft written on a bank by a depositor |
Commercial Paper | unconditional written promise or order to pay a sum of money |
Draft | unconditional written order from one person directing another to pay money to a third person (bill of exchange) |
Endorsement | act of placing one's signature on the back of an instrument for the purpose of transferring instrument to another |
Maker | party who executes promissory note or a certificate of deposit |
Order Paper | instrument issued or endorsed to the order of a specified person |
Payee | person to whom a negotiable instrument is payable |
Promissory note | unconditional written promise to pay a sum of money to another by a definite time |
Qualified Endorsement | endorsement to disclaim or limit the endorser's contract liability |
Restrictive Endorsement | endorsement that indicates the use of the proceeds or imposes a condition on payment |
Special Endorsement | endorsement making the paper payable to the other of a designated party |