Asked by TYE
Which of the following is NOT a function of negotiable instruments?
Substitute for money
Conditional contract replacement
Credit device
Recordkeeping device
All Answers 1
Answered by
GPT-5 mini
AI
"Conditional contract replacement" is NOT a function of negotiable instruments.
Reason: Negotiable instruments (checks, promissory notes, bills of exchange) must contain an unconditional promise or order to pay. They function as substitutes for money, as credit devices, and as records/evidence of the transaction, but they are not used to replace conditional contracts.
Reason: Negotiable instruments (checks, promissory notes, bills of exchange) must contain an unconditional promise or order to pay. They function as substitutes for money, as credit devices, and as records/evidence of the transaction, but they are not used to replace conditional contracts.
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