Paul agreed to lend Marsha $500. Thereupon Marsha made and delivered her note for $500 payable to Paul or order “ten days after my marriage.” Shortly thereafter Marsha was married. Is the instrument negotiable? Explain.
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Paul agreed to lend Marsha $500. Thereupon Marsha made and delivered her note for $500 payable to Paul or order “ten days after my marriage.” Shortly thereafter Marsha was married. Is the instrument negotiable? Explain. |
Answer and Explanation
Explanation
The instrument is nonnegotiable as the payment should be made at a definite time, and Individual M's marriage was not meant to happen at that time.
Verified Answer
The instru...
Explanation
The instrument is nonnegotiable as the payment should be made at a definite time, and Individual M's marriage was not meant to happen at that time.
Verified Answer
The instrument is not negotiable as certainties were not meant to happen in case of Individual M's marriage.
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