Three of the Following Render an Instrument Nonnegotiable;one Does Not

question 56

Multiple Choice

Three of the following render an instrument nonnegotiable;one does not affect negotiability.Which of the following does NOT affect negotiability?

• A) A draft that says: "Pay to the order of Sue Smith once she repairs my computer."
• B) An instrument that says only: "This confirms my $1,000 debt to Sue Smith."
• C) A note that says: "Payment is conditional upon the terms of the mortgage between the parties dated June 1,2000."
• D) A notes that says: "This note is secured by the property described in the parties' mortgage of June 1,2000."

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Definitions:

Non-importation Agreements

A series of colonial American boycotts against British goods in the lead-up to the American Revolution, aiming to protest British policies and taxes.

Townshend Acts

A series of British acts passed in the late 1760s imposing duties on colonial imports in America, contributing to growing unrest and the American Revolution.

Formal Agreements

Officially binding contracts or treaties between parties, often involving nations or organizations.

Tea Importation

The process of bringing tea into one country from another country for sale, trade, or consumption.