Would an instrument containing the following language be negotiable? "Harold T.Stone, as President, hereby promises to pay $12,348 to the order of Joe Jones Furniture for office equipment for Redtyn Corporation, payable from its corporate assets.(Signed) Harold T.Stone as President, Redtyn Corporation."
A) Yes, because it meets all the requirements of negotiability.
B) No, because the promise refers to another contract.
C) Yes, because Redtyn is a business entity.
D) No, because its payment is limited to a particular fund.
Correct Answer:
Verified
Q29: An authorization to confess judgment on the
Q40: Which of the following is not a
Q41: The court in Cooperative Centrale Raiffeisen-Boerenleenbank B.A.v.Bailey
Q43: A promise or order is payable at
Q45: Which of the following would be an
Q46: The UCC states that an instrument fulfills
Q47: X signs a negotiable instrument ordering Y
Q48: A promise or order is unconditional unless
Q49: Which of the following will destroy negotiability?
A)
Q60: In the development of the law of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents