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Author Question: Explain the requirements of negotiability.[br][br][b][color=#165FFA]Question ... (Read 45 times)

joesmith1212

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on: Jun 24, 2018
Explain the requirements of negotiability.

Question 2

The rights and duties of warehousers are regulated by the UCC.
  Indicate whether the statement is true or false


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jxjsniuniu

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Reply #1 on: Jun 24, 2018
Answer to Question 1

An instrument must comply with seven requirements in order to be negotiable. If it lacks any of these requirements, the document is not negotiable. The seven requirements are:
1. The instrument must be in writing and signed by the party executing it.

2. The instrument must contain either an order to pay or a promise to pay.

3. The order or the promise must be unconditional.

4. The instrument must provide for the payment of a fixed amount of money.

5. The instrument must be payable either on demand or at a fixed or definite time.

6. The instrument must be payable to the order of a payee or to bearer.

7. The payee and the drawee must be designated with reasonable certainty.

Answer to Question 2

TRUE


joesmith1212

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Reply 2 on: Jun 24, 2018
:D TYSM

kishoreddi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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