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.
高顿网校微信二维码
关注高顿网校微信，*9时间获取AICPA考试时间提醒，体验全新备考方式
 
       高顿网校特别提醒：已经报名2014年AICPA考试的考生可按照复习计划有效进行！另外，高顿网校2013年AICPA考试辅导高清课程已经开通，通过针对性地讲解、训练、答疑、模考，对学习过程进行全程跟踪、分析、指导，可以帮助考生全面提升备考效果。
 
　　报考指南：2014年AICPA报考指南 
　　考前冲刺：AICPA 考试试题   考试辅导
　　高清网课：AICPA网络课程

展开全文