Asked by McKall Hulsey on Jun 07, 2024
Verified
A negotiable instrument is not a substitute for cash.
Negotiable Instrument
A document in writing that confirms the payout of a designated amount of money, whether immediately upon demand or at a specific time, with the name of the person paying listed on it.
- Understand the implications of an instrument not qualifying as a negotiable instrument.
Verified Answer
ZK
Zybrea KnightJun 07, 2024
Final Answer :
False
Explanation :
A substitute for cash,or a negotiable instrument,is a written document containing the signature of the creator,who makes an unconditional promise or order to pay a sum certain in money either at a time certain or on demand.
Learning Objectives
- Understand the implications of an instrument not qualifying as a negotiable instrument.
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