Which of the Following Statements Is TRUE with Respect to Negotiable

Multiple Choice

Which of the following statements is TRUE with respect to negotiable instruments?

A) Technically speaking, there are only three types of negotiable instruments: cheques, bills of exchange, and promissory notes.
B) The Bills of Exchange Act applies to every type of negotiable instrument.
C) Unlike most contracts, a negotiable instrument is effective only if it is written and signed.
D) A negotiable instrument is valid as long as it provides a mechanism that the drawer can use to determine how much the payee is entitled to receive.
E) A negotiable instrument is effective only if it contains a conditional obligation to pay money.