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NEGOTIABLE INSTRUMENT. (a) Except as provided in subsections (c) and (d), " negotiable instrument " means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it:
DISCHARGE OF INDORSERS AND ACCOMMODATION PARTIES. PART 1. GENERAL PROVISIONS AND DEFINITIONS. PART 2. NEGOTIATION, TRANSFER, AND INDORSEMENT. PART 3. ENFORCEMENT OF INSTRUMENTS. PART 4. LIABILITY OF PARTIES.
A negotiable instrument under UCC Article 3-104 is an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges, that meets specific criteria (see UCC 3-104, a 1-3).
Summary. § 3-104. NEGOTIABLE INSTRUMENT. (a) Except as provided in subsections (c) and (d), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it: (1) is payable to bearer or to order at the time it is issued or first ...
UCC 3-104(a) specifies that in order for an instrument to be negotiable, it must: 1. Be in writing. 2. Be signed by the maker or the drawer. 3. Be an unconditional promise or order to pay. 4. State a specific sum of money. 5. Be payable on demand or at a definite time. 6. Be payable to order or to bearer. Written Document
A negotiable instrument is a type of instrument under § 9-102 (a) (47) of the Uniform Commercial Code (UCC). For a writing to be a negotiable instrument under § 3-104 of the UCC, it must satisfy all of the following: Be signed by the maker or drawer.
Unless the required elements of Sections 3-103 and 3-104 of the Uniform Commercial Code (UCC) are met, the paper is not negotiable. Thus the paper meets the following criteria: It must be in writing.