- 1 Marks
Question
The documents that are used in commercial and financial transactions to secure payment of money are:
A. ATM Cards
B. Bills of Lading
C. Payment Vouchers
D. Negotiable Instruments
E. Credit Cards
Answer
D. Negotiable Instruments
Explanation:
Negotiable instruments such as checks, promissory notes, and bills of exchange are widely used in commercial transactions to secure payments. These instruments provide a legally recognized method for transferring money.
- Tags: Business Law, Commercial Law, Negotiable Instruments
- Level: Level 1
- Topic: Negotiable Instruments
- Series: MAY 2012
- Uploader: Theophilus