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Unformatted text preview: i. Or payee d. Certificates of deposit (CDs)L two party instruments) 4. Requirements for negotiability a. Writing signed by the maker or the drawer i. Must be written on something that lends itself to permits (permanence) ii. Signature b. Unconditional promise or order to pay a fixed Fixed amount of money c. Payable on demand. ********** 5. Requirements for negotiability a. Payment at a definite time i. Acceleration and extension clauses. Instruments that use these clauses are still negotiable b. Be payable to order or to bearer, unless it is a check 6. Factors not affecting negotiability a. Omission of date unless, the date is necessary to see when the payment is do b. Postdating or antedating c. Handwritten over typewritten or printed d. Words over numbers e. With interest f. Mention of collateral g. If you write non negotiable on a check, it doesn’t mean it’s not negotiable h....
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- Spring '10
- Cheque, Promissory note, Negotiable instrument, Uniform Commercial Code, negotiable instruments bargain