Question
Comment briefly on the provisions described in these instruments as to their bearing on negotiability. In each instance, the other portions of the instrument are
Comment briefly on the provisions described in these instruments as to their bearing on negotiability. In each instance, the other portions of the instrument are in proper form.
a. A bill of exchange drawn by Y on Z directs Z to pay $1,000 to the order of A and charge this amount to Y's "Book Fund."
b. The XYZ Company (a partnership) signed a note promising to pay $1,000 and bearing the notation "limited to payment out of the entire assets of the maker."
c. X signed a note promising to pay $5,000 or deliver 100 barrels of oil at the option of the holder.
d. One of the notes is payable "five days after the death of the maker."
e. A note containing the following notation: "with interest at bank rates."
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