Which of the following instruments is negotiable?
A) A note that states, "I promise to pay Vlad $800 if he repairs my car"
B) An instrument that provides, "Payment is subject to the terms of a contract dated November 20, 2009"
C) A note that contains the statement, "This note is secured by a mortgage dated July 01, 2009"
D) An instrument that reads, "I promise to pay to the order of Collin Corp. $550 sixty days after the delivery of my new refrigerator"

Question

Quizplus · Accepted Answer

A reference to another document for a statement of rights with respect to collateral, prepayment, or acceleration does not destroy the negotiability of a note. A note could contain the statement "This note is secured by a mortgage dated July 01, 2009," without affecting its negotiability. In the above case, the mortgage does not affect rights and duties of the parties to the note.

Which of the Following Instruments Is Negotiable