A promissory note that is payable "on the date of my marriage" is nonnegotiable even if the maker of the note marries.

Question

Quizplus · Accepted Answer

A promissory note that is payable "on the date of my marriage" is considered a conditional promissory note rather than a negotiable one. It is dependent on a specific event (the maker's marriage) occurring before the obligation to pay the note is triggered. Therefore, even if the maker of the note does marry, the note cannot be traded on a secondary market and is nonnegotiable.

A Promissory Note That Is Payable "On the Date of My