An instrument is negotiable if it satisfies six standards.Which of the following is a standard of negotiability?
A)The instrument can be oral provided there is proof beyond a reasonable doubt.
B)The instrument must be signed by the payee.
C)The instrument must be conditional.
D)The instrument must state a definite sum of money.

Question

Quizplus · Accepted Answer

One of the standards of negotiability is that the instrument must state a definite sum of money. The other options are incorrect as negotiable instruments must be in writing, signed by the maker or drawer, and unconditional.

An Instrument Is Negotiable If It Satisfies Six Standards