A trade acceptance is created when, as part of a deal to buy wheat from Xi, Yang signs a draft ordering the buyer to pay for the wheat within ninety days.

Question

Quizplus · Accepted Answer

A trade acceptance is a type of draft or bill of exchange used in trade transactions, where the buyer (in this case, Yang) agrees to pay the seller (Xi) for goods received (wheat) within a specified period (ninety days), making it a formal acknowledgment of debt.

A Trade Acceptance Is Created When, as Part of a Deal