Multiple Choice
An instrument contains the following language: "Harold T.Stone as President hereby promises to pay $12,348 to the order of Joe Jones Furniture for office equipment for Redkenn Corporation,payable from its corporate assets.(Signed) Harold T.Stone as President,Redkenn Corporation." Would the instrument be negotiable?
A) No,because the promise refers to another contract
B) No,because its payment is limited to a particular fund
C) Yes,because it meets all the requirements of a negotiable instrument
D) Yes,because it is unequivocal
Correct Answer:
Verified
Correct Answer:
Verified
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