Answer:
b. Be signed by the payee
Explanation:
Negotiability is one of the concept of commercial paper. A commercial paper refers to a contract in which money will be paid.
Negotiability is document that is written and signature appended by the maker or drawer which contains an unconditional order or promise to pay fixed sum of money upon delivery at a certain time and made to the bearer.
An example of a negotiable instrument is a cheque which can be signed a number of times by different people involved in the deal.
The requirements for negotiability are;
Be payable to order or bearer
Be payable on demand at a definite time
State a fixed amount of money
Be an unconditional promise or order to pay
Be in writing
Signed by the maker or drawer
