Which of the following is true regarding the relationship between negotiability and an unconditional promise or order to pay?
A) There is no such requirement in order to find negotiability.
B) A promise or order to pay must be specific and not be implied in order for negotiability to be found.
C) Simply acknowledging a debt satisfies the negotiability requirement of an unconditional promise to pay.
D) A common IOU is sufficient to satisfy the negotiability requirement of an unconditional promise to pay.
E) An offer of unconditional partial payment satisfies requirements of negotiability.

Question

Quizplus · Accepted Answer

For an instrument to be negotiable, it must contain an explicit and specific promise or order to pay a sum of money. This means the terms of payment cannot be implied or vague; they must be clearly stated in the document itself.

Which of the Following Is True Regarding the Relationship Between