Builders Exchange, Inc., issues an instrument in favor of Custom Construction Company. For the instrument to be negotiable, it must
A)be a conditional promise or order to pay.
B)be payable on demand or at a definite time.
C)be signed by the payee.
D)recite the consideration given in exchange for it.

Question

Quizplus · Accepted Answer

For an instrument to be negotiable, it must be payable on demand or at a definite time, as per the requirements of the Uniform Commercial Code (UCC).