If an instrument contains a promise to pay out of a particular fund it is not negotiable.
Correct Answer:
Verified
Q4: A missing due date on an instrument
Q5: State law governing commercial paper is vulnerable
Q6: Able made a note payable to Baker;
Q7: "Negotiability" means that the paper is freely
Q8: If an instrument has no stated time
Q10: Unless the date of an instrument is
Q11: A time draft calls for payment "on
Q12: The Promissory Notes Act prohibits an assignee
Q14: A check is a draft payable on
Q14: The indorser is one who transfers ownership
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