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Chapter 8 (2ed)

Chapter 8 (2ed)

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Published by api-522706

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Published by: api-522706 on Apr 13, 2008
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11/15/2013

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Financing the International
Sale
Chapter 8
Negotiable Instrument

A written promise to pay, the ownership of
which may be transferred by endorsement
and delivery.

Endorsement \u2013 signing the
instrument/document
Delivery is the act of handing over the
document
Examples are checks, bills of exchange,
drafts, letters of credit, promissory notes
Bill of Exchange

Unconditional order in writing , requiring the
person to whom it is addressed, to pay on
demand or at a fixed or determinable time,
a sum certain in money to, or to the order
of a specified person or bearer.
(Canadian definition per Nicholson)

Underlined items are required elements to
qualify the instrument as a bill of exchange

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