Question

Requirements for Negotiability.1. Be in writing:2. Be signed by the maker or the drawer:3. Be an unconditional promise or order to pay:4. State a fixed amount of money: Interest may be stated as a fixed/variable rate.a. Fixed Amount:5. Be payable on demand or at a definite time:6. Be payable to order or to bearer unless it is a check:

Answer 1

Answer:

All of 06 options are equirements for Negotiability

Explanation:

Whether or not a paper is negotiable is the first of our four major questions, and it is one that nonlawyers must confront. Auditors, retailers, and financial institutions often handle notes and checks and usually must make snap judgments about negotiability. Unless the required elements of Sections 3-103 and 3-104 of the Uniform Commercial Code (UCC) are met, the paper is not negotiable. Thus the paper meets the following criteria:

1. It must be in writing.
2. It must be signed by the maker or drawer.
3. It must be an unconditional promise or order to pay.
4. It must be for a fixed amount in money.
5. It must be payable on demand or at a definite time.
6. It must be payable to order or bearer, unless it is a check.

This definition states the basic premise of a negotiable instrument: the holder must be able to ascertain all essential terms from the face of the instrument.