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Luc Signs a Promissory Note for $2,500 in Favor of Metro

Question 19

Multiple Choice

Luc signs a promissory note for $2,500 in favor of Metro College. The note is undated but specifies that it is "payable one month after date." This note is


A) negotiable.
B) nonnegotiable, because one month is not a reasonable time.
C) nonnegotiable, because there is no option to pay early.
D) nonnegotiable, because the maturity date cannot be determined from the face of the instrument.

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