The court in Cooperative Centrale Raiffeisen-Boerenleenbank B.A. v. Bailey found:
A) whether an instrument is negotiable is a question of fact.
B) whether an instrument is negotiable is to be determined without reference to the intent of the parties.
C) the wording of the note was unclear and therefore it did not fall within the UCC Article 3 requirements of negotiability.
D) the question of whether the promissory note was negotiable had to be determined by questioning the parties to the transaction as to their intent.

Question

Quizplus · Accepted Answer

Negotiability of an instrument under the Uniform Commercial Code (UCC) is determined by the terms of the instrument itself and the requirements set forth in the UCC, without regard to the subjective intent of the parties.

The Court in Cooperative Centrale Raiffeisen-Boerenleenbank B