Solved

Identify Which of the Following Meet the Article 3 Negotiability

Question 58

Essay

Identify which of the following meet the Article 3 negotiability requirement of being payable at a definite time:
(a) A note payable "on or before June 14, 2021."
(b) A dated instrument payable "30 days after date."
(c) An undated instrument payable "30 days after date."
(d) An instrument payable "when Baxter is promoted to plant manager."
(e) A note payable on December 31, subject to acceleration by the holder."
(f) A note granting the holder the option to extend maturity of the instrument for an indefinite period.

Correct Answer:

verifed

Verified

Illustrations (a), (b),
(e), and (f) are...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions