Shad signs a promissory note payable to Theresa "with interest" on which he conspicuously notes that it is "nonnegotiable." This instru?ment is
A)negotiable.
B)nonnegotiable,because it includes the notation "nonnegotiable."
C)nonnegotiable,because it does not specify a rate of interest.
D)nonnegotiable,because the exact amount payable cannot be deter?mined from the face of the instrument.

Question

Quizplus · Accepted Answer

The notation "nonnegotiable" makes the instrument nonnegotiable, regardless of the presence or absence of an interest rate or the ability to determine the exact amount payable from the face of the instrument.

Shad Signs a Promissory Note Payable to Theresa "With Interest