Asked by Daynellie Kendall on Jun 22, 2024
Verified
To qualify as a negotiable instrument,an instrument in the form of a note must be signed by the:
A) payee.
B) drawee.
C) assignee.
D) maker.
Maker
The party in a financial instrument, like a check or promissory note, who is responsible for the payment of the amount specified.
Negotiable Instrument
A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, and to a specific person or bearer.
Note
A written promise to pay a specified amount of money at a certain time, often used in finance as a type of informal loan agreement or debt instrument.
- Learn the specifications that make an instrument negotiable, particularly the requirement of a fixed sum and the absence of any conditions attached to the payment.
Verified Answer
Learning Objectives
- Learn the specifications that make an instrument negotiable, particularly the requirement of a fixed sum and the absence of any conditions attached to the payment.
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