Rye signs a $1,000 note payable,at 6 percent interest,on May 1 to Suburban 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" makes the note nonnegotiable, regardless of the other details of the note.

Rye Signs a $1,000 Note Payable,at 6 Percent Interest,on May