In 1792, Colonel Marinus Willett wrote a document stating that in 1781 he had entered into an agreement with 60 members of the Oneida tribe. In return for their help in fighting during the Revolutionary War, the colonel promised each of the 60 members a blanket, but he later found himself unable to fulfill his commitment. In 2004, Andre Deeks filed suit against the U.S. government, claiming that he, as the possessor of Colonel Willett's note, was owed $3 million because the government had never paid its debt to the Oneida tribe. Deeks claimed that the document written by Colonel Willet was a "Bill of Credit in bearer form," which had transferred to him, the cur rent possessor, the standing to sue for the document's enforcement. The text of the note reveals neither an intent that it be circulated as money nor an unconditional promise to pay a certain sum. Based on this information, is the document a negotiable instrument? Does it meet the standards for negotiability?

  • CreatedOctober 21, 2015
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