The ancient Lex mercatoria, or law of merchants, of England recognized that agreements could be paid for with documents that promised payment and that these documents themselves could then be circulated ________.

A) as a King's document
B) as a bank draft
C) as a substitute for money
D) as a substitute for payment
E) as a court order

Lex Mercatoria

The “law of merchants” as defined by customs or trade usages developed by merchants to facilitate business transactions.

Substitute For Money

An alternative to traditional currency that is accepted as a medium of exchange, such as cryptocurrencies, barter items, or digital payment systems.

England

A country that is part of the United Kingdom, known for its rich history, cultural heritage, and as the birthplace of the English language.