Asked by Landrie Pierce on May 28, 2024
Verified
An oral negotiable instrument is permitted under the UCC with special conditions.
Oral Negotiable Instrument
A verbal agreement that is intended to have the same enforceability as a written negotiable instrument, though legally this is often not recognized.
Special Conditions
Specific provisions or clauses added to a contract or agreement that must be met in addition to the general terms.
- Familiarize oneself with the benchmarks for an instrument’s negotiability.
Verified Answer
SM
Serena McCowanMay 30, 2024
Final Answer :
False
Explanation :
Negotiable instruments under the Uniform Commercial Code (UCC) must be in writing to be considered valid; oral agreements do not meet the criteria for negotiability.
Learning Objectives
- Familiarize oneself with the benchmarks for an instrument’s negotiability.
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