Вопрос № 800757 - Английский язык

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What is the person who signs the promissory note called?
A promissory note is a promise by one party (called the maker) who signs the promissory note, to pay to another party (called the payee) a definite sum of money either on demand or at a specified future date. The promissory note may be made payable to the bearer, to a party named in the note, or to the order of the party named in the note.
A promissory note can be made negotiable by endorsement if it is specifically made payable to the order of a person.

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When is a draft called a bill of exchange?
Draft is a written order for the payment of money drawn by one person, directing a second person or financial institution to pay a third person. A draft is called a cheque when it is drawn on a bank. When money is transferred between institutions in different countries, a draft is called a bill of exchange. A draft is payable on sight or on demand; however, in some transactions drafts are often payable at a stated date in the future.

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Drafts are sometimes described in terms of the time of payment. If the draft is payable at sight or on demand - that is, when it is presented to the drawee by the one holding the draft - it is a sight draft. The drawee is expected to pay when the draft is presented.
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If the draft is payable at sight or on demand - that is, when it is presented to the drawee by the one holding the draft - it is _________________.

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A cheque is a special type of draft by which a bank depositor orders the bank to pay money, usually to a third party. Cheques are usually written on special forms provided by bank for a fee. The forms provided by the bank usually are magnetically encoded to make cheque processing easier for the banking system. However, cheques may be written on blank sheets of paper, forms provided by the depositor, or other materials and still be legally effective. The drawee, though, must always be a bank for the instrument to qualify as a cheque.
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Cheques are usually written on special forms provided by bank _______________.

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The bank, according to the contracts with its depositors, agrees to honor (pay when due) each cheque as long as sufficient funds remain in the depositor’s account. As a debtor of the depositor, the bank must honor the cheques in return for the right to use the depositor’s funds until the depositor demands their return. Of course, the bank must retain a sizable percentage of all funds deposited so that it can pay cheques when they are presented. The remainder of the deposited funds is loaned at interest to pay for the bank's operations and to earn for the bank's owners.
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The bank, according to the contracts with its depositors, agrees to honor each cheque as long as sufficient funds remain _______________.

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A person, who deliberately issues a cheque with the knowledge that the funds in the account will be insufficient to pay the cheque when it is presented at the drawee bank, is guilty of a crime. The bank will dishonor (refuse to pay when due) the instrument and the payee or current owner of the cheque will not get any money for it from that source. In addition, if a cheque is issued to pay a debt, the payoff is not effective until the cheque is presented to the drawee bank and honored.
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A person, who deliberately issues a cheque with the knowledge that the funds in the account will be insufficient to pay the cheque when it is presented at the drawee bank, is guilty of _______________.