To finance the purchase of a house from Tuna, Uri signs an instrument promising to pay to "Verity Mortgage Service" $160,000 with interest in installments with the final payment due July 10, 2045. To be negotiable, this instrument must include the signature of
A)a non-party witness.
B)Tuna or Tuna's realtor.
C)Uri.
D)Verity's chief financial officer.Fact Pattern 14-1 Erin draws a check payable to "Foodland" to buy groceries.

Question

To finance the purchase of a house from Tuna, Uri signs an instrument promising to pay to "Verity Mortgage Service" $160,000 with interest in installments with the final payment due July 10, 2045. To be negotiable, this instrument must include the signature of​
A)a non-party witness.
B)Tuna or Tuna's realtor.
C)Uri.
D)Verity's chief financial officer.Fact Pattern 14-1 Erin draws a check payable to "Foodland" to buy groceries.

Quizplus · Accepted Answer

The signature of the maker or drawer is required for an instrument to be negotiable. In this case, Uri is the maker of the instrument, so his signature is necessary.

To Finance the Purchase of a House from Tuna, Uri