Answered

Indicate whether each of the following is a negotiable or a
nonnegotiable instrument.
(A) A note signed with an "X"
(B) A draft payable at sight
nonnegotiable
[Select]
negotiable
nonnegotiable

Verified Answer :

GinnyAnswer

Final answer:

A draft payable at sight is negotiable, while a note signed with an 'X' is nonnegotiable.


Explanation:

Negotiable instrument: A draft payable at sight is a negotiable instrument, as it can be transferred to another party by endorsement or delivery.

Nonnegotiable instrument: A note signed with an 'X' is a nonnegotiable instrument since it lacks a proper signature that can be endorsed and transferred to another party.


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