To finance the purchase of an electric guitar and amplifier from Leon's Guitars, Milo signs an instrument promising to pay to "National Lenders" $1,800 with interest in installments and the final payment due August 15, 2016. To be negotiable, this instrument must include on its face
A)any conditions on the sale of the goods.
B)any conditions to the disbursement of the funds.
C)any conditions to the repayment of the loan.
D)not any conditional promises or orders to pay.Fact Pattern 14-3 Thalia signs an instrument unconditionally promising to pay to "Union Bank" $7500 with interest in installments with the final payment due June 1, 2017.

Question

Quizplus · Accepted Answer

To be negotiable, an instrument must contain an unconditional promise or order to pay a fixed amount of money, without any conditions attached to the payment.

To Finance the Purchase of an Electric Guitar and Amplifier