Which of the following can be negotiable?
A) A promissory note that states, Pay to Floyd Burchett 3000 on September 1, 2015.
B) A check written on the standard check form that does not state the date it was issued.
C) A promissory note from Farmer Douglas to Hainey Seeds, Inc. promising to pay for the seed purchased in the spring with bushels of grain harvested in the fall.
D) An oral promise to pay to the order of Justin 500 on demand.
Question 2
In good faith, Clinton gave Jane 500 for a negotiable promissory note made out to Jane for 550. She needed some money before the due date on the note, and Clinton had no notice of outstanding claims or other defects of the note. Clinton
A) has more rights than Jane.
B) has the same rights as Jane.
C) has only conditional rights because they depend on Jane's rights.
D) cannot transfer the note to anyone else.
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Summary of SOAP Note Content Cont.