Hayden owes Luther $5000.Hayden will only be able to pay this debt if he is able to sell his one-year-old Harley motorcycle,valued at $20,000.Hayden writes a check to Luther that reads,"Payable to the order of Luther the sum of $5000 as soon as my Harley motorcycle sells for a reasonable amount." This check is
A) negotiable, assuming Luther accepts delivery of the check.
B) negotiable if Hayden also includes a date that he expects the motorcycle to sell.
C) non-negotiable because it does not state a definite amount of money.
D) non-negotiable because the check is conditional.
Correct Answer:
Verified
Q5: Margo is in possession of a check
Q6: A claim in recoupment can be used
Q7: A possessor of non-negotiable commercial paper has
Q15: Commercial paper is a contract to pay
Q18: Tyron purchased a $2,900 promissory note from
Q19: Trisha loaned Brian $600 evidenced by a
Q19: Generally,Rita signs her name using an infinity
Q20: The term "issuer"
A)is not used in relation
Q21: Which of the following can be negotiable?
A)A
Q22: Under the UCC,a holder in due course
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