Negotiable Instrument Song

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This is a Law Lessong - a law lesson in a song - that I wrote to help students remember the 8 requirements for a negotiable instrument. Audio files for more law lessongs can be found here: http://sites.google.com/site/blawprof...) • • More Law Lessong videos will be posted at the Legal Studies Classroom blog: http://legalstudiesclassroom.blogspot... • • Negotiable Instrument Song • by M. DeAngelis • • Refrain: • The law of negotiable instruments • Is tricky, admittedly. • The system of sale and purchase, • Of financial liability. • But the place to start we're certain, • Is where we all should be. • There's 8 distinct requirements • To determine negotiability. • • Is the instrument in writing, • Givin' permanence and portability? • Is the writing signed by the maker, • Or the drawer as the case may be? • Does it contain a payment promise? • Is there an order to pay the payee? • These are the first three requirements • To determine negotiability. • • Is the promise or order unconditional, • Or is there a contingency? • There can't be another document • That determines liability. • Is it payable in money, • Not diamonds or antiquities? • For a fixed amount, it's OK to count • Interest variability. • • Refrain • • Is there a definite time for payment, • Calculated to a certainty? • Or on demand, we understand, • Means payable immediately. • Payable to bearer, • Meets our needs sufficiently. • While payable to the order of, • Means the order of the payee. • • There are 8 distinct requirements • To determine negotiability; • A writing, signed, with a promise or order, • Payment unconditionally; • A fixed amount of money, • On demand or timed with certainty; • Pay to bearer or order, and it's no harder • To determine negotiability • • Refrain

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