Peter calls his friend Lily to borrow $500. On the side of a box, Peter writes and signs a note stating he will pay back the $500 as long as Lily allows him to use her car until he gets a job. The instrument is not negotiable because it violates which of the following?

1. permanency

2. portability

3. payable to order or bearer

4. no requirement except the payment of money

Question

Business

Xander Lester

16 January, 02:17

Peter calls his friend Lily to borrow $500. On the side of a box, Peter writes and signs a note stating he will pay back the $500 as long as Lily allows him to use her car until he gets a job. The instrument is not negotiable because it violates which of the following?

1. permanency

2. portability

3. payable to order or bearer

4. no requirement except the payment of money

+2

Answers (1)

Know the Answer?

Sean Leblanc · Answer 1

The right answer for the question that is being asked and shown above is that: "4. no requirement except the payment of money." The instrument is not negotiable because it violates that 4. no requirement except the payment of money