Fallon is discussing with Lynne the purposes of negotiable instruments for an upcoming test. Fallon indicates that for an instrument to be negotiable, the instrument must indicate that it was created for the purpose of being transferred, is he correct?
A) Yes.
B) No, it must have the words “pay to” on the document.
C) No, the instrument must indicate which bank is to accept the instrument.
D) No, the instrument must indicate the insurer’s name on the instrument.
E) No, there is nothing specific that must be on the instrument.