Solved

Would an Instrument Containing the Following Language Be Negotiable? "Harold

Question 59

Multiple Choice

Would an instrument containing the following language be negotiable? "Harold T. Stone, as President, hereby promises to pay $12,348 to the order of Joe Jones Furniture for office equipment for Redtyn Corporation, payable from its corporate assets. (Signed) Harold T. Stone as President, Redtyn Corporation."


A) No, because the promise refers to another contract.
B) No, because its payment is limited to a particular fund.
C) Yes, because Redtyn is a business entity.
D) Yes, because it meets all the requirements of negotiability.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents