Pedro Signs an Instrument That States It Is Being Executed

question 23

Multiple Choice

Pedro signs an instrument that states it is being executed "as per a contract for the sale of a truckload of almonds dated May 1." This instrument is

• A)not necessarily nonnegotiable.
• B)not negotiable, because banks cannot easily process commodities.
• C)not negotiable, because it includes the specific date of a contract.
• D)not negotiable, because it refers to an express contract.

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