With a , the bank serves both as the drawer and the drawee. the most common type of negotiable instrument is a(n) .

With a CASHIER'S CHECK, the bank serves both as the drawer and the drawee. The most common type of negotiable instrument is a(n) PROMISSORY NOTE.

Explanation:

A cashier's check is a negotiable instrument because it is in writing, it is an unconditional order to pay, it is signed by the bank (the drawer), it orders the bank (the drawee) to pay a certain specified amount of money to the bearer of the check.

A promissory note is a signed document that promises an unconditional payment to a specific individual or legal entity (business). A promissory note can include a specific date for the payment or the payment can be made on demand.

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy