Under the UCC which of the following statements is sufficient to make a promise or order to pay conditional?
A)"I promise to pay from the corporate account."
B)"I promise to pay if the following occurs."
C)"I promise to pay as per the contract for the sale of goods between the parties."
D)"I promise to pay because I owe the money."
E)"Borrower may pay without penalty all or a portion of the amount owed earlier than it is due."

Question

Quizplus · Accepted Answer

A)An instrument stating,"I promise to pay if the following occurs" is not a negotiable instrument.It may be a perfectly enforceable contract,but it fails to satisfy the terms of negotiability.
B)An instrument stating,"I promise to pay if the following occurs" is not a negotiable instrument.It may be a perfectly enforceable contract,but it fails to satisfy the terms of negotiability.
C)An instrument stating,"I promise to pay if the following occurs" is not a negotiable instrument.It may be a perfectly enforceable contract,but it fails to satisfy the terms of negotiability.
D)An instrument stating,"I promise to pay if the following occurs" is not a negotiable instrument.It may be a perfectly enforceable contract,but it fails to satisfy the terms of negotiability.
E)An instrument stating,"I promise to pay if the following occurs" is not a negotiable instrument.It may be a perfectly enforceable contract,but it fails to satisfy the terms of negotiability.

Under the UCC Which of the Following Statements Is Sufficient