Negotiatiable Instrument - Payable on Time or on Demand

Negotiatiable Instrument - Payable on Time or on Demand

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The video tutorial explains the elements of negotiability concerning payment on time or demand. It discusses how negotiable instruments are payable either on demand or at a specified time. If no indication is present, it is assumed to be payable on demand. External evidence can suggest a time payment, but if not indicated in the instrument, it may not be negotiable. Instruments with ascertainable dates remain negotiable, even with acceleration or prepayment clauses.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is required for a payable on time instrument to remain negotiable?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How do acceleration and prepayment clauses impact the negotiability of an instrument?

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