asked 13.5k views
5 votes
Payable on Demand or at a Definite Time Abby Novel signed a handwritten note that read, "Glen Gallwitz 1–8–2002 loaned me $5,000 at six percent interest a total of $10,000." The note did not state a time for repayment. Abby used the funds to manufacture and market a patented jewelry display design. More than three years after Abby signed the note, Glen filed a suit to recover the stated amount. Abby claimed that she did not have to pay because the note was not negotiable, as it was incomplete. Is Abby correct

asked
User Eddy Liu
by
7.5k points

1 Answer

3 votes

Answer:

Not applicable

Step-by-step explanation:

We don't have enough information to judge this case

answered
User Bilal Mustafa
by
8.7k points
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