negotiability Flashcards
negotiability
tangible writing
signed by maker/drawer
unconditional promise to pay
fixed amt of money
no addtl undertaking
on demand/definite time
order or bearer
signature?
all about intent
what references are still unconditional promises to pay?
referring to doc relating to
collateral
prepayment/acceleration
pmt from a particular source
do oral conditions destroy negotiability?
no
fixed amount of money?
any recognized currency
if principal fixed, may have variable interest rate
when is it payable on demand?
“on demand”
or does not refer to time
when is it payable at definite time?
fixed date or end of period
bearer instrument
payable to bearer
order of bearer
payable to cash
no IDable payee
to be negotia
order instrument
to the order of NG
to NG or his order
to be negotiated, must be delivered and properly indorsed
how is bearer instrument negotiated?
delivery
how is order instrument negotiated
delivery and proper indorsement
what if language of both order or bearer?
treat as bearer
