„Payable In Exchange“
What does Payable In Exchange stand for?
A negotiable instrument conspicuously marked on its face “Exchange” and naming a payee, is considered to be negotiable and payable to the order or assigns of the designated payee.
Source:
Financial and BankingView all itemsMiller, R. L., & Jentz, G. A. (2008). Business Law Today: The Essentials. South-Western Cengage Learning.
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