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Zorluk: OrtaMeans of Payment in Home Trade

A trader in Abeokuta receives a post office remittance instrument purchased by a customer in a fixed denomination to settle a small debt. To ensure safety in transit, the sender crossed the instrument so that it must be paid into a bank account. Which means of payment was utilized in this transaction?

  1. Postal orderCevap
  2. B
    Money order
  3. C
    Bank draft
  4. D
    Promissory note

Cevap

Postal order
A postal order is a financial instrument issued by the post office in set fixed monetary values, commonly used for sending small sums of money by post. Crossing a postal order makes it payable only through a bank account, providing security against theft or loss.

Adım Adım Çözüm

1
Identify the issuing authority and format of the payment instrument
The instrument is issued by the post office in fixed face-value denominations.
Postal orders are issued by post offices in predetermined fixed values, unlike money orders which are drawn for custom requested sums.
2
Analyze the security feature applied to the instrument
Crossing the instrument restricts payment so it can only be credited to a bank account.
Like cheques, postal orders can be crossed across their face to prevent over-the-counter cash redemption, enhancing security during transmission.

Anahtar Kavram

Postal orders as post office means of payment in home trade
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Konular

Means of Payment in Home Trade

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