Multiple Choice
Which of the following would be an unconditional promise or order to pay?
A) "I hereby acknowledge my debt to John Jones."
B) "I hereby promise to pay $2,000 to John Jones provided the lawn tractor sold meets the contractual specifications."
C) "Pay to the order of bearer ten dollars."
D) "IOU fifty dollars."
Correct Answer:
Verified
Correct Answer:
Verified
Q5: In the development of the law of
Q6: A definite time required for negotiability would
Q7: Which article of the UCC governs "negotiable
Q8: A draft is payable "to the order
Q9: To be negotiable, the instrument must satisfy
Q11: An authorization to confess judgment on the
Q12: An instrument payable at a definite time
Q13: A check is a draft payable on
Q14: All but which one of the following
Q15: X signs a negotiable instrument ordering Y