Multiple Choice
Which of the following instruments is nonnegotiable?
A) "I promise to pay to the order of Carol Reed $40,Jerry Jacobs."
B) A statement in the instrument that it was given in payment of the previous month's rent.
C) A statement in the instrument that it was given in payment of the purchase price of goods.
D) "I promise to pay to the order of Meg Raven,at my option,$100 or five baskets of oranges,Dan Gilbert."
Correct Answer:
Verified
Correct Answer:
Verified
Q14: A holder in due course of a
Q15: A(n)_ is a person who has good
Q16: Shania Watson has a checking account at
Q17: Marion purchased a digital camera,paying with a
Q18: Jack writes a check made payable to
Q20: For an instrument to be negotiable,it must:<br>A)contain
Q21: As demonstrated in Pelican National Bank v.Provident
Q22: Carl writes a check made payable to
Q23: Which of the following statements about the
Q24: The requirement that,to be negotiable,an instrument must