Multiple Choice
If an instrument fails to qualify as a negotiable instrument,which of the following statements is true?
A) The instrument by definition is a good contract only if it is made out in an amount more than $1,000.
B) The instrument by definition is a good contract only if it is made out in an amount less than $1,000.
C) The instrument by definition is a good contract.
D) Failure to qualify as a negotiable instrument does not mean the instrument fails to be a good contract.
E) The instrument by definition fails to be a good contract.
Correct Answer:
Verified
Correct Answer:
Verified
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