D is corrent because one of the requirements for negotiability is that the instrument be payable on demand or at a definite time. An instrument which by its terms is otherwise payable only upon an act or event, uncertain as to time of occurrence, is not payable at a definite time. A is incorrect because it is not necessary that an instrument be dated in order to be negotiable. B is incorrect because the instrument is not payable on demand and its payment rests upon an event that is uncertain with respect to time; therefore, it is not negotiable. C is incorrect because the payment of the instrument is not conditioned upon the 2week delivery term. Thus, the instrument does contain an unconditional promise to pay a fixed amount.
|