BEC - Module Review

Module Review

Bearer Instrument	A security that does not indicate the owner payable to whoever presents it is a bearer instrument.
Draft	A document ordering the payment of money drawn by one person or bank on another is a draft.
Negotiability	Negotiability is the ability to be transferred or assigned, in place of money, in the ordinary course of conducting business.
Negotiable Instrument	A negotiable instrument is a specialized type of "contract" for the payment of money that is unconditional and capable of transfer by negotiation.
UCC	Uniform Commercial Code is a uniform law, adopted by some states, designed to simplify and modernize the consumer credit and usury laws, to further consumer understanding of the terms of credit.
E-Commerce	Sales, transactions, refunds, or any other business performed online are considered e-commerce.
Digital Cash	Digital cash, like Bitcoin, is a new currency for the real world and the Internet, refers to money or scrip which is exchanged only electronically
Commercial Paper	An unsecured obligation issued by a corporation or bank to finance its short-term credit needs is called commercial paper.

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