Which of the Following Is True Regarding the Relationship, If

question 56

Multiple Choice

Which of the following is true regarding the relationship, if any, between negotiability and an unconditional promise or order to pay?

• A) There is no such requirement in order to find negotiability because a conditional order to pay is sufficient.
• B) A promise or order to pay must be specific and not be implied in order for negotiability to be found.
• C) Simply acknowledging a debt satisfies the negotiability requirement of an unconditional promise to pay.
• D) A common IOU is sufficient to satisfy the negotiability requirement of an unconditional promise to pay.
• E) Simply acknowledging a debt satisfies the negotiability requirement of an unconditional promise to pay, and also a common IOU is sufficient to satisfy the negotiability requirement of an unconditional promise to pay.

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Definitions:

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