When written documents are signed by a party that makes an unconditional promise to pay the holder of the instrument a specific sum of money on demand, or at a certain time, they are called?

A) Negotiable instruments
B) Informal contracts
C) Simple contracts
D) Recognizances
E) Formal contracts

Negotiable Instruments

Negotiable Instruments are written documents guaranteeing the payment of a specific amount of money to the bearer or named party, such as checks, promissory notes, and drafts.

Unconditional Promise

A pledge or assurance given without any prerequisites or contingencies.

Specific Sum

A fixed amount of money that is defined and stipulated within a contract or legal document.