Tina borrowed $20,000 from ACME Mortgage and signed a promissory note secured by a deed of trust on the land she owned.The note provided for interest at "30% over prime to be adjusted monthly." Is a note providing for a variable amount of interest,not ascertainable from the face of the note,a negotiable instrument?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q40: A traveler's check that requires,as a condition
Q41: Nation-wide Check Corp.sold money orders to drugstores.The
Q42: An instrument states,"Subject to Approval of Title,Pay
Q43: Shelly signed a check payable to the
Q44: John borrowed money from Alvin to buy
Q45: What is the difference between a promissory
Q47: The following hierarchy applies when a check
Q48: A "bearer paper" is:
A)a check made payable
Q49: Identify the statement that holds true of
Q50: Under Revised Article 3,an exception to the
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