Which of the following is NOT a credit instrument?

Source: JAMB · 2024

Which of the following is NOT a credit instrument?

  1. Bank Notes
  2. Bill of Exchange
  3. Bill of Lading ✓
  4. Cheques
Explanation

A bill of lading is a shipping document. It proves that goods were received for transport. It is not used for credit.

Cheques, bank notes, and bills of exchange are used to pay for goods or promise future payment.

Credit instruments represent money or a promise to pay money.

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