Which of the following would be an unconditional promise or order to pay?
A) I hereby acknowledge my debt to John Jones.
B) I hereby assign all my rights under this instrument to John Jones.
C) Pay to the order of bearer ten dollars.
D) IOU fifty dollars.

Question

Quizplus · Accepted Answer

"Pay to the order of bearer ten dollars" is an unconditional order to pay because it instructs the person or entity holding the note to pay the specified amount to whoever holds it, without any further conditions or requirements. The other options either acknowledge a debt (A), assign rights to an instrument (B), or simply acknowledge a debt and amount owed (D), but do not contain an unconditional promise or order to pay.

Which of the Following Would Be an Unconditional Promise or Order