To be negotiable,an instrument must be payable in afixed amount.

Question

Quizplus · Accepted Answer

One of the requirements of negotiability is that the instrument must be payable in a fixed amount. This means that the amount of money to be paid must be clear and unambiguous, and not dependent on any contingency or variable factor. Examples of negotiable instruments include checks, promissory notes, and bills of exchange, all of which have a fixed amount to be paid to the payee or beneficiary.

To Be Negotiable,an Instrument Must Be Payable in Afixed Amount