If an Instrument Fails to Qualify as a Negotiable Instrument,which

question 40

Multiple Choice

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

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

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