Which of the Following Instruments Satisfies the Requirements of Negotiability

question 41

Multiple Choice

Which of the following instruments satisfies the requirements of negotiability?

• A) An instrument that states, "payment is to be made at some future time after above date."
• B) An instrument that states, "payment is to be made 10 days after delivery of the goods" but fails to indicate when delivery is to be made.
• C) An instrument that states, "this contract was created for the purpose of being transferred."
• D) An instrument that states, "an extension for payment is allowable" but fails to state a fixed time for payment.
• E) An instrument that states, "payment shall be in the form of stock."

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Definitions:

API GL-5

a classification of lubricants set by the American Petroleum Institute for high-pressure gear oils, commonly used in vehicle differentials and transmissions.

Differential Carriers

The housing that contains the differential in a vehicle, supporting the differential gears and enabling the distribution of power to the wheels.

Hypoid Gearsets

Hypoid Gearsets are used in the differential of vehicles, characterized by gears that engage at angles to each other, which allows for smoother and quieter operation than traditional gear systems.

MIL L 2105D

This refers to a military specification for lubricants, oils, and greases used in mechanical systems.