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Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond
Edition 9ISBN: 978-1133586562Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond
Edition 9ISBN: 978-1133586562 Exercise 16
Mills agreed to lend $500 to her friend, Allen. Allen had a birthday coming up, and heknew he would be receiving gifts of money that he could use to repay the loan. Hegave Mills an instrument dated March 2 that said, "One week after I become 22 yearsof age, I promise to pay to the order of Barbara Mills the sum of $500. (Signed)WilliamAllen."
Questions
1. I s this a valid instrument? Why or why not?
2. I s this instrument negotiable? Why or why not?
Questions
1. I s this a valid instrument? Why or why not?
2. I s this instrument negotiable? Why or why not?
Explanation
Verified
Verified
To be negotiable , an instrument must co...
Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond
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