Asked by Mason Smith on Jun 16, 2024
Verified
A negotiable instrument is a written document containing the signature of the creator that makes an unconditional promise or order to pay a sum certain of money ________.
A) to a third party vendor
B) at either a time certain or on demand
C) as a promissory agreement
D) to a bank
E) to a guarantor
Negotiable Instrument
A signed document promising a sum of payment to a specified person or the assignee which is transferable by endorsement.
Sum Certain
A specific, agreed-upon amount of money owed under a contract that is not subject to change.
Unconditional Promise
A commitment or guarantee that is not subject to any conditions or contingencies.
- Familiarize oneself with the requirements that constitute the negotiability of an instrument.
Verified Answer
AS
Alexandria SimoneJun 19, 2024
Final Answer :
B
Explanation :
Negotiable instruments are characterized by the promise or order to pay a specific amount of money either at a determinable future time or on demand, making option B the correct choice.
Learning Objectives
- Familiarize oneself with the requirements that constitute the negotiability of an instrument.
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