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Questions and Answers
Which of the following is a written and signed promise to pay money?
Which of the following is a written and signed promise to pay money?
- Note (correct)
- Draft
- Check
- Bill of Exchange
Which of the following is NOT a requirement for an instrument to be negotiable?
Which of the following is NOT a requirement for an instrument to be negotiable?
- The instrument must be conditional (correct)
- The instrument must contain a promise or order to pay a fixed amount of money
- The instrument must be in writing
- The instrument must be signed
Which of the following would make a promise conditional under Article 3?
Which of the following would make a promise conditional under Article 3?
- It refers to another writing for a statement of rights regarding collateral, prepayment, or acceleration (correct)
- It states that the promise is subject to or governed by another writing
- It requires a countersignature by a person whose specimen signature appears on the promise
- It limits payment to a particular source or fund
Which of the following instruments could be negotiable?
Which of the following instruments could be negotiable?
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Which of the following is a type of negotiable instrument?
Which of the following is a type of negotiable instrument?
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