On a piece of paper, Joelle writes, “I promise to pay Rio $1000 on demand.” Joelle signs the note.
On a piece of paper, Joelle writes, “I promise to pay Rio $1000 on demand.” Joelle signs the note.
What type of instrument is this?
Is it negotiable?
If not,why not?
If anyone could help me with an answer to this business law question regarding negotiability it would be greatly appreciated. Thank you
Your paper should be 1-2 pages in length (double-spaced, with one inch margins all around). Be certain to explain and support your answer.
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On a piece of paper, Joelle writes, “I promise to pay Rio $1000 on demand.” Joelle signs the note.
What type of instrument is this?
This can be termed as a negotiable instrument. A negotiable instrument is defined as a document such as promissory note or check that contains a signature of the drawer or maker; an unconditional order or promise to pay a specific sum in cash to bearer that is payable either on demand or at specified time (Emerson, 2009). In a negotiable instrument, there must be two parties who are involved. There must be some deal that is agreeable………….
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