In order for an instrument to be negotiable,the promise or order to pay must be ________ and not ________.
A)general; expressed
B)specific; implied
C)general; implied
D)specific; expressed
E)equivocal; affirmative

Question

Quizplus · Accepted Answer

According to Uniform Commercial Code Section 3-103(a)(9),in order for an instrument to be negotiable,it must contain a promise or order to pay that is specific and not implied.The language must be affirmative in nature.For example,simply acknowledging a debt does not create language for payment; therefore,a common IOU is not a promise or an order to pay and thus cannot be a negotiable instrument.

In Order for an Instrument to Be Negotiable,the Promise or Order