After Buying a Yacht for $1 200 000 Using a Cheque

Multiple Choice

After buying a yacht for $1 200 000 using a cheque, Kyle has returned to the yacht dealership to demand a refund of $200 000 on the basis that he is not satisfied with the boat.Kyle argues that the yacht is really only worth $1 000 000 and that his liability on the cheque consequently was limited to that amount.Which of the following requirements of using a negotiable instrument did Kyle fail to consider?

A) It must be signed and written.
B) Both parties must be identified.
C) There must be a certain sum of money.
D) There must be a time of payment.
E) There must be an unconditional obligation.