To be negotiable,an instrument must contain a promise or an order to pay a fixed amount of money.

Name: To be negotiable,an instrument must contain a promise or an order to pay a fixed amount of money.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is one of the basic requirements of negotiability according to the Uniform Commercial Code (UCC). The amount of money must be fixed or determinable at the time of issuance, and cannot be subject to any conditions or contingencies.

To Be Negotiable,an Instrument Must Contain a Promise or an Order