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Commercial paper article of the ucc

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Reference no: EM131096677

Under the Commercial Paper Article of the UCC, which of the following circumstances would prevent a promissory note from being negotiable?

1. An extension clause that allows the maker to elect to extend the time for payment to a date specified in the note.

2. An acceleration clause that allows the holder to move up the maturity date of the note in the event of default.

3. A person having a power of attorney signs the note on behalf of the maker.

4. A clause that allows the maker to satisfy the note by the performance of services or the payment of money.

Reference no: EM131096677

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