Asked by Hloni Nkolanyane on May 28, 2024
Verified
What characteristics must a written document have in order to satisfy the requirement that a negotiable instrument be in writing?
A) A signature by both parties and an allonge
B) An allonge and movability
C) Relative permanence and a signature by both parties
D) Movability and a signature by both parties
E) Relative permanence and movability
Writing Requirement
A legal condition under certain laws requiring certain contracts to be in writing to be enforceable.
Relative Permanence
The notion that while situations or states may not be forever, they have a lasting presence or effect that is more enduring than transient phenomena.
Negotiable Instrument
A financial document providing assurance for the payment of a given amount of money, either to be paid on demand or at an agreed time, with the document containing the name of the payee.
- Identify the prerequisites and stipulations necessary for the negotiability of financial instruments.
Verified Answer
Learning Objectives
- Identify the prerequisites and stipulations necessary for the negotiability of financial instruments.
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