Project 6.3A

PROJECT 6.3A’s purpose is to introduce you to the problems of liability when creating a Negotiable Instrument.  Stay on topic.  Off-topic posts cannot score points.

 

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Please answer the following:

Q1: The accounting department of Jimbringinger Company receives an instrument that states, “January 6, 2012. Thirty days after date, I promise to pay to the order of cash, $700 (seven hundred and 00/100 dollars), in San Francisco, California, with interest at the rate of 7% (seven percent) per year. This instrument is secured by a contract for the sale of a barbeque grill. Due April 15, 2012. [Signed] Ed Jacobite.”

  • What type of instrument is this?
  • Is it negotiable? If not, why not?  Cite your textbook for support
  • Your answers will be graded upon their quality (QUALITATIVELY GRADED).

 

CAUTION: Your posts must remain on-topic for full points.  If your post(s) discuss matters not directly related to “problems of liability when creating a Negotiable Instrument“” your post(s) will NOT score points.

 

Q2: On a sheet of paper

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