Hayley Signs an Instrument Payable to the Order of InstaCredit,Inc

question 7

Multiple Choice

Hayley signs an instrument payable to the order of InstaCredit,Inc.,that allows a holder to demand payment of the entire amount due,with inter?est,if Hayley fails to make a payment.This instrument is

• A)negotiable.
• B)nonnegotiable,because a holder can move up the payment date.
• C)nonnegotiable,because moving up the payment date is conditional.
• D)nonnegotiable,because the exact payment date cannot be deter?mined from the face of the instrument.

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Definitions:

Arbitration

A method of dispute resolution where an impartial third party, the arbitrator, makes a decision to resolve a conflict outside of court.

UPA

Uniform Partnership Act; a law in the United States that provides a basic framework for the operation of partnerships in the absence of an express agreement.

Wrongful

Referring to actions or conduct that are unjust, improper, or illegal.

Term Partnership

An agreement between partners to establish a partnership for a specific duration or until the completion of a particular project.