Know the Time Requirements for Negotiable Instruments!

Sometimes negotiable instruments actually only become payable after certain acts or events have occurred. However, this is not a specific time; it still fits the definition of specific time under commercial business law. As long as there is one specific, clearly defined point at which the negotiable instrument becomes payable, it can fall under the purview of negotiable instruments. If a given monetary contract does not have such a specifically defined time for the money to be made payable, then it cannot be a negotiable instrument.

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