If an Instrument Fails to Qualify as a Negotiable Instrument

question 50

Multiple Choice

If an instrument fails to qualify as a negotiable instrument, which of the following statements is true?

• A) The instrument by definition fails to be a good contract.
• B) Failure to qualify as a negotiable instrument does not mean the instrument fails to be a good contract.
• C) The instrument by definition is a good contract.
• D) The instrument by definition is a good contract only if it is made out in an amount less than $1,000.
• E) The instrument by definition is a good contract only if it is made out in an amount more than $1,000.

---

Definitions:

Psychological Theories

Conceptual frameworks for understanding human thoughts, behaviors, emotions, and how they are developed and influenced by various factors.

Obsessions

Persistent, intrusive, and unwanted thoughts that cause distress or anxiety.

Compulsions

Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession, or according to rules that must be applied rigidly.

Obsessive-Compulsive Disorder

A mental disorder where individuals experience recurring, unwanted thoughts (obsessions) and repetitive behaviors (compulsions) as a way to manage anxiety.