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.
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