Instruments that are payable upon an uncertain act or event are not negotiable.

Name: Instruments that are payable upon an uncertain act or event are not negotiable.
Brand: Quizplus
Rating: 4.7 (32 reviews)

Question

Quizplus · Accepted Answer

According to the definition of negotiable instruments, they must be payable on demand or at a specific time, and the payment must be unconditional. If the payment is dependent on an uncertain act or event, the instrument is no longer considered negotiable.

Instruments That Are Payable Upon an Uncertain Act or Event