Under the Negotiable Instruments Article of the UCC, which of the following statements is(are) correct regarding the requirements for an instrument to be negotiable?
I.
The instrument must be in writing, be signed by both the drawer and the drawee, and contain an unconditional promise or order to pay.
II.
The instrument must state a fixed amount of money, be payable on demand or at a definite time, and be payable to order or to bearer.
a. Neither I nor II.
b. I only.
c. Both I and II.
d. II only.
Explanation：
Choice "d" is correct.
To be negotiable, the instrument must meet all of the following:
1.Be in writing
2.Be signed by the maker or drawer (not drawee)
3.Contain an unconditional promise or order
4.Be for a fixed amount of money
5.Be payable on demand or at a definite time
6.Be payable to order or bearer
7.Contain no additional undertaking/instruction not authorized by the UCC
Alternative I is incorrect because there is no requirement that the drawee sign.
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