Asked by Gurwinder Bhullar on Jun 07, 2024

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An accord is an additional piece of paper with endorsements that is firmly attached to the negotiable instrument.

Accord

An agreement in the context of contract law where one party agrees to accept a substitute form of satisfaction from the other party.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on-demand or at a set time, with the payer named on the document.

Endorsements

Refers to the act of signing one's name on the back of a check, bill of exchange, or similar document to transfer its ownership or to approve or support something.

  • Recognize the requirements and conditions for the negotiability of instruments.
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Verified Answer

MA
Muneeb AbbasJun 11, 2024
Final Answer :
False
Explanation :
Normally,there is a place on the negotiable instrument for endorsements,such as on the back of a check.If there is no room on the instrument or if all the room has been taken by previous endorsements,an allonge must attached.An allonge is simply an additional piece of paper with the endorsements.It must be firmly attached (for example,stapled)to the negotiable instrument.