Question

Kelly signs an instrument in favor of Leo that states it is "subject to a cer­tain agreement between Kelly and Mona." This instru­ment is
a. negotiable.
b. nonnegotiable, because it is made subject to a separate agreement.
c. nonnegotiable, because it refers to a separate agreement.
d. nonnegotiable, because Kelly and Mona are not the same persons.

Answer

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