Negotiability invests commercial paper with a high degree of marketability and commercial utility by allowing it to be freely transferable and enforceable by a holder in due course.
Correct Answer:
Verified
Q4: Time paper is payable at a definite
Q5: A written and signed promise by Miller
Q6: Notes and certificates of deposit are orders
Q8: Where both words and numerals are used
Q9: Paper payable "on demand" fails the test
Q12: To be negotiable,an instrument must be in
Q13: Under the law of assignments,the assignee stands
Q14: A check is a draft payable on
Q17: Only a bank may serve as the
Q20: A promissory note is an instrument that
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