Sid signs a promissory note payable to Tony on which Sid conspicuously notes that it is "not negotiable" and gives the note to Toney. This instru?ment is
A) negotiable.
B) nonnegotiable, because it includes the notation "not negotiable."
C) nonnegotiable, because it is a promissory note.
D) nonnegotiable, because it was given to Bob.

Question

Quizplus · Accepted Answer

The notation "not negotiable" on the promissory note makes it nonnegotiable, even though it is still a promissory note. Therefore, option B is the correct answer. Options A, C, and D are incorrect.

Sid Signs a Promissory Note Payable to Tony on Which