An instrument that contains an unconditional order to pay is considered as a negotiable instrument.

Name: An instrument that contains an unconditional order to pay is considered as a negotiable instrument.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is a correct statement. A negotiable instrument is a written document that promises payment to the bearer or to the person named on the document. An unconditional order to pay is one of the criteria that makes an instrument negotiable under the Uniform Commercial Code (UCC).

An Instrument That Contains an Unconditional Order to Pay Is