All but which one of the following is required of a negotiable instrument?
A)It must be payable only out of a particular fund.
B)It must contain an unconditional promise to pay a fixed amount in money.
C)It must be payable on demand or at a definite future date.
D)It must be in writing and signed by the maker or drawer.

Question

Quizplus · Accepted Answer

A negotiable instrument cannot be limited to being payable out of a particular fund, as this would make it non-transferable to another person. The other requirements listed (unconditional promise to pay a fixed amount in money, payable on demand or at a definite future date, in writing and signed by the maker or drawer) are all required for a negotiable instrument.

All but Which One of the Following Is Required of a Negotiable