An acknowledgement of debt is sufficient to consider a promissory note as a negotiable instrument.

Question

Quizplus · Accepted Answer

An acknowledgement of debt alone does not make a promissory note a negotiable instrument. A negotiable instrument requires certain legal requirements, such as being payable on demand or at a specific time, being for a certain amount, and being unconditional. While an acknowledgement of debt may be included in a promissory note, it is not sufficient on its own for the note to be considered a negotiable instrument.

An Acknowledgement of Debt Is Sufficient to Consider a Promissory