Pam signs an instrument payable to the order of Quick Credit, Inc., that allows a holder to demand payment of the entire amount due, with inter?est, if Pam fails to make a payment. This instrument is
A) negotiable.
B) nonnegotiable, because a holder can move up the payment date.
C) nonnegotiable, because moving up the payment date is conditional.
D) nonnegotiable, because the exact payment date cannot be deter?mined from the face of the instrument.

Question

Quizplus · Accepted Answer

This instrument is negotiable because it meets all the requirements of a negotiable instrument, including being payable to order, containing an unconditional promise to pay, and allowing for payment of a fixed amount. The provision allowing for demand payment in case of default does not affect its negotiability.

Pam Signs an Instrument Payable to the Order of Quick