2. Cash refers to various payment vouchers expressed in foreign currency, which can be circulated and transferred in the international market and can be freely converted into other countries' currencies. Such as US dollar, British pound, Swiss franc, German mark and other currencies of major western countries.
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Acceptance (acceptance)
The payer of a bill promises to bear the obligation to pay the face value of the bill, and records this expression on the bill. Acceptance is a unique bill of exchange system. In the law of negotiable instruments, the payer of a bill of exchange must accept it instead of becoming the debtor of the bill because of the drawer's entrustment. Once accepted, the drawee is called the acceptor and is the main debtor of the bill. Acceptance is a subsidiary legal act, the purpose of which is to make the payer bear the payment obligation of the due face value. Therefore, after acceptance, the payer must pay the amount of the bill to the holder at maturity according to the contents recorded on the bill. Even if the drawer fails to provide funds to the payer, it cannot be a reason to defend the holder. If the acceptor fails to pay on the due date, the holder, even though he is the original drawer, should directly demand the payment of the bill. Acceptance requires presentation, and the relevant contents shall be recorded by the acceptor in the manner prescribed by law. The law of negotiable instruments in most countries requires the signature of the word "acceptance" and the name of the drawee. Article 17 of the British bill of exchange promissory note act 1882 stipulates that acceptance must be written on the bill of exchange and signed by the drawee. Only the signature of the payer without its judgment is enough to constitute acceptance. Article 25 1 of the Geneva Uniform Bill of Exchange and Promissory Notes Law also stipulates: "A bill of exchange shall be accepted. The payer shall record the word "acceptance" or synonyms and sign it ". At the same time, it is stipulated: "Only when the drawee signs on the front can the bill be regarded as accepted". The provisions of American negotiable instrument law are different, only requiring acceptance by signature. Article 3-4 10 of the Uniform Commercial Code of the United States-Note: "Acceptance must be made in writing on the bill of exchange and must only consist of the signature of the payer". If the drawee does not accept by legal means, but verbally expresses his acceptance, or accepts on a document other than a bill of exchange, the acceptance will not take effect.
Cash refers to free transactions in the international financial market, also known as "free foreign exchange". Foreign exchange widely used in international settlement and payment and freely convertible into other countries' currencies. Countries that issue these currencies have relaxed foreign exchange control and control, some even basically abolished foreign exchange control, while others have implemented strict foreign exchange control, which prevents their currencies from being freely convertible into internationally used foreign currencies and stipulates that their currencies cannot be taken out of the country.