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What prevents a promissary note from being negotiable?

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Under the commercial paper article of the ucc, which of the following circumstances would prevent a promissory note from being negotiable

a) an extension clause that allows the maker to elect to extend the time for payment to a date specified in the note

b) an acceleration clause that allows the holder to move up the maturity date of the note in the event of default

c) a person having a power of attorney signs the note on behalf of the maker

d) a clause that allows the maker to satisfy the note b the performance of services or the payment of money

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Solution Summary

This solution addresses the following commercial paper article question:

Under the commercial paper article of the ucc, which of the following circumstances would prevent a promissory note from being negotiable

a) an extension clause that allows the maker to elect to extend the time for payment to a date specified in the note

b) an acceleration clause that allows the holder to move up the maturity date of the note in the event of default

c) a person having a power of attorney signs the note on behalf of the maker

d) a clause that allows the maker to satisfy the note b the performance of services or the payment of money

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