Which of the following was the result in Samuel James Thompson v.First Citizens Bank & Trust Co.,the case in the text in which the parties disagreed as to whether an instrument referenced as a certificate of deposit was actually negotiable?
A) The court ruled that the instrument was negotiable.
B) The court ruled that the instrument was not negotiable because it clearly stated that it was non-transferable.
C) The court ruled that the instrument was not negotiable because it lacked the signatures of both parties.
D) The court ruled that the instrument was not negotiable because it lacked the signature of a bank representative.
E) The court ruled that the instrument was not negotiable because it contained a condition precedent and was not an unconditional order to pay.

Question

Quizplus · Accepted Answer

According to the court "In the instant case, the CD confirmation clearly states, in upper case type, "NON-TRANSFERABLE." We conclude that this qualifies as "a conspicuous statement . . . that the promise or order is not negotiable," and, thus, that the CD does not fall within the purview of the negotiable instrument provisions of the UCC."

Which of the Following Was the Result in Samuel James