Is mere acknowledgment of a debt be sufficient to create a negotiable instrument?

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Is mere acknowledgment of a debt be sufficient to create a negotiable instrument?

2007-12-06 05:42:30 · 1 answers · asked by tom_allen95 2 in Politics & Government ➔ Law & Ethics

1 answers

No.

A written acknowledgment of a debt would serve as a promissory note, but promissory notes are not negotiable instruments.

The successor in title to a promissory note usually only has a claim on the person he got it from, not from the original writer.

Richard

2007-12-06 05:44:39 · answer #1 · answered by rickinnocal 7 · 0⤊ 1⤋