BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ means any document which is in writing.
A
Instrument
B
Negotiable
C
Endorsement
D
Stamp Paper
Explanation: 

Detailed explanation-1: -An instrument is a written legal document that records the formal execution of legally enforceable acts or agreements, and secures their associated legal rights, obligations, and duties. Contracts, wills, promissory notes, deeds, and statutes passed by competent legislatures are examples of legal instruments.

Detailed explanation-2: -instrument, legal document, legal instrument, official document. (law) a document that states some contractual relationship or grants some right. papyrus. a document written on papyrus.

Detailed explanation-3: -Written instrument means a money order, or a check, cashier’s check, or other negotiable instrument as those terms are defined in the Uniform Commercial Code, in the name of the Association and payable to PAC.

Detailed explanation-4: -The document is always dated. It will be made by or on behalf of someone who does not exist. An Instrument is defined as the document in which a right or liability is produced, conveyed, extended, limited, expired or recorded.

There is 1 question to complete.