To finance the purchase of a house from Tuna,Uri signs an instrument promising to pay to "Verity Mortgage Service" $160,000 with interest in installments with the final payment due July 10,2045. To be negotiable,this instrument must include the signature of
A)a non-party witness.
B)Tuna or Tuna's realtor.
C)Uri.
D)Verity's chief financial officer.

Question

Quizplus · Accepted Answer

The negotiable instrument must include the signature of the person promising to pay - in this case, Uri. While witnesses or other parties may sign the instrument, they are not required for it to be negotiable. Tuna or Tuna's realtor may also sign the document, but their signature is not necessary for negotiability. Verity's chief financial officer is not relevant to the negotiability of the instrument.

To Finance the Purchase of a House from Tuna,Uri Signs