Multiple Choice
What is the effect of a promissory note containing a conditional promise?
A) The note is void.
B) The note is voidable.
C) The note is enforceable even though it is nonnegotiable.
D) The note becomes negotiable once the condition is met.
E) The note is negotiable even though the promise is conditional.
Correct Answer:
Verified
Correct Answer:
Verified
Q39: If an instrument is payable jointly using
Q66: Once created,a negotiable instrument can be transferred
Q68: Which type of indorsement indicates that a
Q69: Karen has a checking account at First
Q70: Under the UCC,a negotiable instrument may provide
Q72: A(n)_ clause permits the maker to pay
Q73: Negotiable instruments are also known as commercial
Q74: A negotiable instrument may be a conditional
Q75: Zora signs an unconditional written promise to
Q76: A trade acceptance is a sight draft