The statement "To determine the value of an instrument, it is necessary to know when the maker, drawer, or acceptor is required to pay." Is TRUE
This is further explained below.
<h3>What is the instrument?</h3>
Generally, A device that was either purpose-built or modified to produce musical sounds is referred to as a musical instrument.
In theory, anything that generates sound may be called a musical instrument; but, in practice, an object only becomes a musical instrument when it is used for its intended function.
In conclusion, It is vital to know whenever the maker, draw, or acceptance is expected to pay in order to calculate the worth of an instrument, as stated in the statement. Is correct
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The Coase Theorem says that, in an economic transaction with externalities, if property rights are well defined and if the transaction costs are low enough, then the private solution is socially optimal, with no need for government intervention to correct the situation externality, which is a market failure. The government's only role would be to ensure that property rights are well defined and that free trade flows without transaction costs.
Coase's theorem, shows how the role of institutions, especially legal ones, are important for the proper functioning of the market economy.
Answer:
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I'm 99.9% sure that the answer is the West.
