Asked by Hloni Nkolanyane on May 28, 2024

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What characteristics must a written document have in order to satisfy the requirement that a negotiable instrument be in writing?

A) A signature by both parties and an allonge
B) An allonge and movability
C) Relative permanence and a signature by both parties
D) Movability and a signature by both parties
E) Relative permanence and movability

Writing Requirement

A legal condition under certain laws requiring certain contracts to be in writing to be enforceable.

Relative Permanence

The notion that while situations or states may not be forever, they have a lasting presence or effect that is more enduring than transient phenomena.

Negotiable Instrument

A financial document providing assurance for the payment of a given amount of money, either to be paid on demand or at an agreed time, with the document containing the name of the payee.

  • Identify the prerequisites and stipulations necessary for the negotiability of financial instruments.
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RS
Rashuan SimonJun 02, 2024
Final Answer :
E
Explanation :
In order to satisfy the writing requirement for a negotiable instrument,the written document must have two characteristics: relative permanence and movability.