Paper payable "on demand" fails the test of negotiability in that it does not contain a specific time.
Correct Answer:
Verified
Q4: Time paper is payable at a definite
Q5: A written and signed promise by Miller
Q6: Notes and certificates of deposit are orders
Q7: A cashier's check is drawn by a
Q8: Where both words and numerals are used
Q10: Negotiability gives commercial paper a high degree
Q11: Handwritten words supersede contradicting typewritten words in
Q12: To be negotiable,an instrument must be in
Q13: Under the law of assignments,the assignee stands
Q14: A check is a draft payable on
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