Asked by Taylor Chisholm on May 06, 2024
Verified
As a general rule under UCC 3-103(a) (9) , the promise or order to pay within a negotiable instrument must be ________ and not ________.
A) Specified; exact
B) Implied; specified
C) Implied; exact
D) Specified; implied
E) Exact; implied
Negotiable Instrument
This is a written promise to pay a specified amount of money, which can be demanded at any time or at a specified future date, with the payer's name clearly stated on it.
UCC 3-103(a)(9)
Defines "instrument" within the context of the Uniform Commercial Code, focusing on negotiable instruments, including checks, drafts, and notes, detailing their formal requirements and effects.
Specified
Clearly stated or identified.
- Determine the different negotiable instruments and their particular attributes.
Verified Answer
BB
Belen BarajasMay 11, 2024
Final Answer :
D
Explanation :
Under UCC 3-103(a)(9), the promise or order to pay within a negotiable instrument must be specified and not implied, ensuring clarity and enforceability.
Learning Objectives
- Determine the different negotiable instruments and their particular attributes.