Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which of the following qualifies as a negotiable instrument under the particular fund doctrine? A check which indicates that it will be paid out of
Which of the following qualifies as a negotiable instrument under the particular fund doctrine?
A check which indicates that it will be paid out of account #234567 at First Bank. | ||
A note which states: "I promise to pay Alice $500 only out of the profits from my yard sale." | ||
A note which states: "I promise to pay to the order of Alice $500 only out of the profits from my yard sale." | ||
All of the above are negotiable instruments under the particular fund doctrine. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started