Trixie signs a $1,500 note payable, at 4.25 percent interest, on October 1 to Urban Bank and writes on its face that it is "nonnegotiable." This note is
A) negotiable.
B) nonnegotiable, because it is dated.
C) nonnegotiable, because it is payable with interest.
D) nonnegotiable, because it includes the notation "nonnegotiable."

Question

Quizplus · Accepted Answer

The notation "nonnegotiable" on the face of the note makes it nonnegotiable, regardless of the date or the inclusion of interest.

Trixie Signs a $1,500 Note Payable, at 4