Asked by Ashley Montgomery on Jul 02, 2024

Which of the following does not satisfy the requirement that to be negotiable an instrument must be payable at a time certain or on demand?

A) The instrument states a specific date for payment.
B) The instrument is dated and then states that "payment will be made 5 days after the above date."
C) An instrument that states that payment is due at a fixed time but may be extended at the election of the holder.
D) An instrument that states that "payment will be made 10 days after delivery of the goods."
E) An instrument that permits acceleration of payment and has a fixed date of payment if the acceleration clause is not affected.

Time Certain

A term used to specify an exact time at which an event or action is planned to take place.

On Demand

Refers to goods, services, or information being available whenever requested by customers or users.

Negotiable

Capable of being transferred from one party to another in exchange for something of value, typically used in the context of financial instruments.

  • Ascertain the conditions that render an instrument negotiable.