A provision in a promissory note payable one year from its date that the maker may extend the maturity date six months impairs the note's negotiability.

Question

Quizplus · Accepted Answer

A provision allowing the maker to extend the maturity date does not impair the negotiability of a promissory note. Negotiability is concerned with the terms under which the note can be transferred, not with the specifics of the repayment schedule.

A Provision in a Promissory Note Payable One Year from Its