The transferee's rights in non-negotiable commercial paper are conditional,but the transferee's rights in negotiable commercial paper are unconditional.

Question

Quizplus · Accepted Answer

Non-negotiable commercial paper means that it cannot be transferred without the consent of the issuer, and therefore the transferee's rights are conditional upon the issuer's consent. In contrast, negotiable commercial paper allows for the transfer of ownership without the need for the issuer's consent, and therefore the transferee's rights are unconditional.

The Transferee's Rights in Non-Negotiable Commercial Paper Are Conditional,but the Transferee's