Disregarding the Issue of Whether Sophie Properly Performed, Is the Statement

question 25

Multiple Choice

Disregarding the issue of whether Sophie properly performed, is the statement "I, Reza Salehi, promise to pay Sophie Smith or to bearer, the sum of $100 on Monday, July 22, 2016," without a signature anywhere else on the document, sufficient to satisfy the signature requirement of negotiability?

• A) Yes, because it contains an unconditional promise to pay, and in the handwritten promise, the maker wrote his own name.
• B) Yes, it is sufficient regardless of whether it is in handwriting or not because it contains an unconditional promise to pay.
• C) No, because it was not signed at the bottom.
• D) Yes, but only if Reza later signed another document confirming that he meant the handwritten statement to constitute his signature.
• E) No, because it was not signed at the bottom or anywhere else on the document.

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Definitions:

Marginal Cost

The cost to produce one additional unit of a product or service.

Buffet

A meal consisting of various dishes set out on a table or sideboard from which guests can serve themselves.

Profit Opportunities

Situations where individuals or firms can earn a return on investment that is more than the norm, often due to market inefficiencies or information asymmetries.

Opportunity Cost

The cost of choosing one option over another, represented by the benefits that could have been obtained by choosing the alternate option.