Form and Content
• Describe the concept and importance of
negotiability.
• Identify and describe the types of negotiable
instruments involving an order to pay.
• Identify and describe the types of negotiable
instruments involving a promise to pay.
• List and explain the formal requirements that an
instrument must meet to be negotiable.
• Explain the effect on negotiability of an instrument’s
(1) being undated, antedated, or postdated;
(2) lack of completion; and (3) ambiguity.
