Which of the following would be a nonnegotiable instrument?
A) "Payment is subject to the terms of a mortgage dated August 12,2011."
B) A statement in the instrument that it was given in payment of last month's rent.
C) A statement in the instrument that it was given in payment of the purchase price of goods.
D) "This note is secured by a mortgage dated January 13,2011."
Correct Answer:
Verified
Q39: A check is NOT negotiable if it:
A)reads
Q40: Checks and drafts are:
A)documents required as evidence
Q41: If the description of interest in the
Q42: Which of the following can be negotiated
Q43: The requirement that,to be negotiable,an instrument must
Q45: The Code determines negotiability at _,so that
Q46: An instrument payable on demand is:
A)not payable
Q47: Which of the following is a negotiable
Q48: Marion purchased a digital camera,paying with a
Q49: Which of the following statements will cause
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