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Question
Quinn signs an instrument payable to the order of Payday Loan Company that states, "The maker of this note at the date of maturity, May 1, 2007, can extend the time of payment, but for no more than a reasonable time." This instrument isa. negotiable.
b. nonnegotiable, because it includes an extension clause.
c. nonnegotiable, because it is not payable within a definite time.
d. nonnegotiable, because it is payable to Payday Loan Company.
Answer
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