If instrument is negotiable, it can be:
A) paid on demand.
B) cancelled by the maker.
C) assigned by contract.
D) transferred by negotiation.

Question

Quizplus · Accepted Answer

If an instrument is negotiable, it can be transferred by negotiation, which means that ownership rights can be transferred to another party by endorsement or delivery. A negotiable instrument can also be paid on demand, but it cannot be cancelled by the maker once it has been negotiated. While a negotiable instrument can be assigned by contract, this is not a unique feature of negotiable instruments as many other types of contracts can also be assigned.

If Instrument Is Negotiable, It Can Be