Promissory note from being negotiable


Problem: Under the commercial paper article of the ucc, which of the following circumstances would prevent a promissory note from being negotiable

a) an extension clause that allows the maker to elect to extend the time for payment to a date specified in the note

b) an acceleration clause that allows the holder to move up the maturity date of the note in the event of default

c) a person having a power of attorney signs the note on behalf of the maker

d) a clause that allows the maker to satisfy the note b the performance of services or the payment of money

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Promissory note from being negotiable
Reference No:- TGS01919805

Now Priced at $20 (50% Discount)

Recommended (93%)

Rated (4.5/5)