An instrument purports to be a negotiable instrument. It otherwise fulfills all the elements of negotiability and it states "Pay to Rich Crane." It is negotiable if it is a promissory note due one year later with 5% interest stated on its face.

An instrument purports to be a negotiable instrument. It otherwise fulfills all the elements of negotiability and it states "Pay to Rich Crane." It is negotiable if it is a promissory note due one year later with 5% interest stated on its face.

An instrument purports to be a negotiable instrument. It otherwise fulfills all the elements of negotiability and it states "Pay to Rich Crane."
It is negotiable if it is a promissory note due one year later with 5% interest stated on its face.


a. Correct
b. Incorrect


Answer: B