Asked by
elizabeth sotelo
on Nov 10, 2024
Verified
For an instrument to be negotiable, it must be an unconditional promise to pay a specific amount at some future date or on demand.
Negotiable Instrument
A document in writing that promises to pay a certain sum of money, either upon request or at a predetermined date, with the person responsible for payment identified on the document.
Unconditional Promise
A commitment or guarantee that is not subject to any conditions or stipulations.
- Describe the characteristics of a negotiable instrument.
Verified Answer
JS
Learning Objectives
- Describe the characteristics of a negotiable instrument.