Question
No. 111 DIANA DAVIDSON 21 West 21st Street Toronto, Canada April 1, 1977 Pay to the order of Stanley Stark $1,000.00 One thousand & no/100's
No. 111
DIANA DAVIDSON
21 West 21st Street
Toronto, Canada
April 1, 1977
Pay to the order of Stanley Stark $1,000.00
One thousand & no/100's Canadian Dollars
Diana Davidson
FIRST NATIONAL TRUST
Buffalo, New York
For Finder's Fee
After examining the above instrument, which of the following conclusions is correct?
a. It is nonnegotiable because it is payable in Canadian money.
b. It is a demand instrument but does not qualify as a negotiable instrument, because it is drawn in Canada and payable by a bank in the United States.
c. The instrument is a negotiable foreign check (draft), and in the event of dishonor a formal protest must be made by the party seeking recovery.
d. Diana Davidson is the maker of the instrument and as such is primarily liable thereon.
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