Under the Negotiable Instruments Article of the UCC, which of the following provisions satisfies the requirement that an instrument, to be negotiable, must be payable at a definite time?
　　a. The instrument is undated and payable "30 days after date."
　　b. The instrument is dated and payable "15 days after sight."
　　c. The instrument is undated and payable "when the payee dies."
　　d. The instrument is dated and payable "in six months but the payor may extend this period indefinitely."
 
　　Explanation
　　Choice "b" is correct.
　　An instrument is payable at a definite time if it can be established from the face of the instrument when the obligation will become due. An obligation payable 15 days after sight is payable 15 days after it is presented for payment.
　　Choice "d" is incorrect.
　　Although six months is a definite time, the option of the payor to extend indefinitely the time for payment destroys negotiability.
　　Choice "a" is incorrect.
　　If an instrument is not dated, we cannot know when 30 days after date is. Therefore, this is not payable at a definite time.
　　Choice "c" is incorrect.
　　Although the payee will die some day, we do not know when, so the date of payment is not definite.
高頓網(wǎng)校微信二維碼
關(guān)注高頓網(wǎng)校微信，*9時(shí)間獲取AICPA考試時(shí)間提醒，體驗(yàn)全新備考方式
 
       高頓網(wǎng)校特別提醒：已經(jīng)報(bào)名2014年AICPA考試的考生可按照復(fù)習(xí)計(jì)劃有效進(jìn)行！另外，高頓網(wǎng)校2013年AICPA考試輔導(dǎo)高清課程已經(jīng)開(kāi)通，通過(guò)針對(duì)性地講解、訓(xùn)練、答疑、?？?，對(duì)學(xué)習(xí)過(guò)程進(jìn)行全程跟蹤、分析、指導(dǎo)，可以幫助考生全面提升備考效果。
 
　　報(bào)考指南：2014年AICPA報(bào)考指南 
　　考前沖刺：AICPA 考試試題   考試輔導(dǎo)
　　高清網(wǎng)課：AICPA網(wǎng)絡(luò)課程