Promissory notes are non-negotiable.

Name: Promissory notes are non-negotiable.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Promissory notes can be either negotiable or non-negotiable. If a promissory note is negotiable, it can be transferred to a third party who becomes the new legal holder of the note. However, if a promissory note is non-negotiable, it cannot be transferred to a third party and only the original parties involved in the note are legally bound by it.

Promissory Notes Are Non-Negotiable