If an instrument does not specify a time for payment and the instrument must be paid on presentment, it is not negotiable.
Correct Answer:
Verified
Q18: For a negotiable instrument to operate practically
Q19: Commonly used in international trade, a draft
Q20: A trade acceptance is created when, as
Q21: Stating with certainty a fixed amount of
Q22: With an order instrument, the payee must
Q24: The nature of an instrument, such as
Q25: If the numerical and written amounts on
Q26: If an instrument is payable within a
Q27: An instrument is not negotiable unless it
Q28: A promise that states an express condition
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents