Identify which of the following meet the Article 3 negotiability requirement of being payable at a definite time:
(a) A note payable "on or before June 14, 2021."
(b) A dated instrument payable "30 days after date."
(c) An undated instrument payable "30 days after date."
(d) An instrument payable "when Baxter is promoted to plant manager."
(e) A note payable on December 31, subject to acceleration by the holder."
(f) A note granting the holder the option to extend maturity of the instrument for an indefinite period.

Question

Identify which of the following meet the Article 3 negotiability requirement of being payable at a definite time: 
(a) A note payable "on or before June 14, 2021." 
(b) A dated instrument payable "30 days after date." 
(c) An undated instrument payable "30 days after date." 
(d) An instrument payable "when Baxter is promoted to plant manager." 
(e) A note payable on December 31, subject to acceleration by the holder." 
(f) A note granting the holder the option to extend maturity of the instrument for an indefinite period.

Quizplus · Accepted Answer

The Answer of Identify which of the following meet the Article 3 negotiability requirement of being payable at a definite time: 
(a) A note payable "on or before June 14, 2021." 
(b) A dated instrument payable "30 days after date." 
(c) An undated instrument payable "30 days after date." 
(d) An instrument payable "when Baxter is promoted to plant manager." 
(e) A note payable on December 31, subject to acceleration by the holder." 
(f) A note granting the holder the option to extend maturity of the instrument for an indefinite period.

Identify Which of the Following Meet the Article 3 Negotiability