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Flashcards in Negotiablity Deck (2):
1

Elements of Negotiability

1) In writing
2) Signed by Maker or Drawer
3) unconditional promise or order to pay
4) Fixed amount
5) min money
6) no other undertaking or instruments
7) payable on demand or at a definite time.
8) Contains words of Negotiability .

2

3) unconditional promise or order to pay

When Promise or Order to Pay

An instrument will be conditional and therefor will not be negotiable

1) expressly states a condition to payment

2) States that the promise or order is subject to or gov. by another writing.