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Muriel Evans writes the following note on the back of an envelope: "I, Muriel Evans, promise to pay Karen Marvin or bearer $100 on demand." Is this a negotiable instrument? Discuss why or why not.

Respuesta :

Yes, it is a negotiable instrument because it is a written and signed document that was written by Muriel Evans to pay $100 to Karen Marvin.

What is an Agreement?

This refers to the formal or informal conclusion which is reached between two or more persons about a certain thing and the clauses involved.

Hence, we can note that because a written and the signed statement was made by Muriel Evans, then this fits the definition of a negotiable instrument which is a signed document that promises to pay a certain amount of money to a person.

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