A check is a negotiable instrument that is a substitute for money. Payments made by check far exceed payments made with cash in the United States.
Based on your reading for this week:
Consider why people make more payments using checks than cash. Are there additional advantages for business owners to make payments by check?
With these thoughts in mind:
Post a statement that explains why you believe that people make more payments using checks than they do with cash. Also, try to identify any advantage that a business owner might get from using checks instead of cash.
Read a selection of your colleagues’ postings.
Respond to two or more of your colleagues’ postings in one or more of the following ways:
Ask a probing question.
Share an insight from having read your colleague’s posting.
Offer and support an opinion.
Make a suggestion.
Expand on your colleague’s posting.
Return to this Discussion in a few days to read the responses to your initial posting. Note what you learned and the insights you gained as a result of the comments your colleagues made.
Be sure to support your work with specific citations from the Learning Resources and any additional sources.
Click the Reply button below to post your response.
Please read and view this week’s Learning Resources before you complete the Discussion.
Course Text: Goldman, A., & Sigismond, W. (2007). Business law: principles and practices (7th ed.). Boston: Houghton Mifflin.
Chapter 19, “Nature and Types of Negotiable Instruments”
This chapter introduces you to negotiable instruments. These are written documents that may be used as a substitute for money, such as checks, or as a way to extend credit. You will explore the different types of negotiable instruments available to the business community and the basic features of each type of instrument.
Focus on the definitions and concepts provided throughout the chapter. Review and think about the examples in the chapter that demonstrate the major ideas being conveyed. Consider both the advantages and disadvantages that can be encountered when using these instruments that substitute for money or extend credit.
Chapter 28, “Government Regulation of Business”
In this chapter, you will explore the many types of government regulation of business. Consider why such regulation is needed and how it protects the rights of business owners as well as consumers, employees, and stockholders. Under the constitutional form of government, the government must be supplied with the authority to regulate business, and you will explore the many sources of this authority.
Focus on the definitions and concepts provided throughout the chapter. Review the examples in the chapter that demonstrate the major ideas being conveyed. Think about the extent to which government regulates business and consider the impact of these many rules, regulations, and statutes on the smooth and efficient operation of business.