Brie signs an instrument in which she promises to pay Carmen a certain price for her Dodge Dart. The instrument will be negotiable if it meets all of the requirements for negotiability, including that it is payable in

a. shares of stock equal in value to the market price of the car.

b. money.

c. goods equal in value to the market price of the car.

d. any of the choices

Question

Tabitha

Business

16 October, 17:50

Brie signs an instrument in which she promises to pay Carmen a certain price for her Dodge Dart. The instrument will be negotiable if it meets all of the requirements for negotiability, including that it is payable in

a. shares of stock equal in value to the market price of the car.

b. money.

c. goods equal in value to the market price of the car.

d. any of the choices

+2

Answers (1)

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Justus · Answer 1

B) money.

Explanation:

Characteristics of a negotiable instrument

Property: the individual or company that possesses the instrument is also considered its owner. Order instruments, e. g. checks, must be endorsed for transfer of property. Title: the person that receives title of the instrument is called a transferee and is the holder in due course. Rights: the transferee can take legal action to claim the honoring of the instrument. Prompt payment: the due holder can anticipate prompt payment because dishonoring the instrument (not paying it) results in the "ruin of credit" of all parties involved in the instrument. Monetary value: instruments carry a specific monetary value and must be paid in money.