On May 1,Doug signs a check that is payable to the order of Employees Credit Corporation and that is dated July 1.This check is
A)negotiable.
B)nonnegotiable,because it is payable to a corporation.
C)nonnegotiable,because it is postdated.
D)nonnegotiable,because it is signed by the drawer.

Question

Quizplus · Accepted Answer

The check is negotiable because it is payable to the order of Employees Credit Corporation and is not restricted in any way. The fact that it is postdated does not affect its negotiability.

On May 1,Doug Signs a Check That Is Payable to the Order