California Business Practice- April 2014

Wednesday, November 10, 2010

Conditional Sales Contract

We discussed a question involving an instrument that included the phrase: "This instrument is secured by a conditional sales contract". This instrument is a note and negotiation is not affected by the fact the instrument recites the transaction which gives rise to the instrument. Therefore- the answer to this question is: Not negotiable until December 1 1987. (see p. 567)

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