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Which of the follwing statements is correct about the negotiable instrument? ( )One hundred and twenty (120) days after date _October 30, 2020_______PAY TO THE ORDER OF _ABC Corporation_______U.S.$ 100,000__ONE HUNDRED THOUSAND_U.S. DOLLARS.FOR VALUE RECEIVED AND CHARGE TO THE ACCOUNT OF Hank’s Bank, 100 Elkhorn Road, Sun Valley, Idaho 83353Michael Martin
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Direct payment by buyers such as M/T, T/T and D/D is the simplest mode of international payment and no bank is involved in the process of payment.( )
Documentary collections and documentary letters of credit belong to the documentary sale where documents of a bill of lading and a draft are often used.( )
Drafts, checks and promissory notes are all written and unconditional orders to pay a sum of money.( )
Convention on the Unification of the Law Relating to Bills of Exchange and Promissory Notes (ULB) is the internationally uniform rules governing the bill of exchange.( )
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