Question
Personal checks, cashier's checks, money orders,
certificates of deposit (CDs), promissory notes, and traveler's checks are called NID. What does ‘I’ stand for in NID?Solution
Common examples of negotiable instruments deposit include personal checks, cashier's checks, money orders, certificates of deposit (CDs), promissory notes, and traveler's checks. The person receiving the payment, known as the payee, must be named or otherwise indicated on the instrument.
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