Explain the requirement for a fixed amount in negotiable instruments?
What will be an ideal response?
To be negotiable, an instrument must contain a promise or an order to pay a fixed amount of money. The fixed amount requirement ensures that the value of the instrument can be determined with certainty. The principal amount of the instrument must appear on the face of the instrument. An instrument does not have to be payable with interest, but if it is, the amount of interest being charged may be expressed as either a fixed or variable rate. The amount or rate of interest may be stated or described in the instrument or may require reference to information not contained in the instrument. If an instrument provides for interest but the amount of interest cannot be determined from the description, interest is payable at the judgment rate (legal rate) in effect at the place of payment of the instrument.
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Nile Inc. is one of the leading shoe manufacturing companies in Baltoni. It manufactures canvas shoes that are quite similar to those produced by other brands
The management of the company has decided to adopt a product/service differentiation competitive strategy. What is Nile Inc. likely to do in this scenario? a. Offer their products at discounted rates and make the cost of their products lower than those of their competitors. b. Produce aerobic, tennis, and baseball shoes that have specialized features. c. Advertise their products through more media outlets than it previously did. d. Start selling products to markets outside Baltonia.
In which of the following situations has a company most actively embraced customer-managed relationships?
A) American Airlines awards frequent flyer points to returning customers. B) Paige Premium Denim jeans provide superior quality and perfect fit. C) iRobot invites enthusiastic Roomba owners to develop and share their own uses for the company's robotic vacuum cleaner. D) Best Buy distinguishes between its best customers and its less profitable customers, stocking merchandise to appeal to each group. E) Toyota develops a marketing presence on social networks and other online communities.