The requirement that,to be negotiable,an instrument must promise or order payment of a fixed amount of money applies:
A)only to principal.
B)only to interest.
C)to both principal and interest together.
D)neither to principal nor interest.

Question

Quizplus · Accepted Answer

The promise or order in an instrument must be to pay a fixed amount of money,with or without interest or other charges described in the promise or order.The requirement of a "fixed amount" applies only to principal;the amount of any interest payable is that described in the instrument.

The Requirement That,to Be Negotiable,an Instrument Must Promise or Order