A definite time required for negotiability would NOT be satisfied in which instance?
A) Payable on or before January 2, 2021.
B) Payable one year from the completion of the building
C) Payable one week after demand is made.
D) Payable on June 15, 2021 or, if the building is not complete on that date, one year from that date.

Question

Quizplus · Accepted Answer

For a financial instrument to be negotiable, it must have a fixed date or be payable upon demand. Option B, "Payable one year from the completion of the building," does not satisfy the requirement for a definite time because the completion date of the building is uncertain.

A Definite Time Required for Negotiability Would NOT Be Satisfied