Lindsay signed a note to Clements that stated, “ On or about five years from date, I promise to pay Bonnie M. Clements $ 25,000 without interest.” When Lindsay failed to pay the note, Clements sued. Lindsay claimed that the note was invalid because it did not contain any fixed or determined future time for payment. Will Clements recover on the note?
Answer to relevant QuestionsMr. and Mrs. Hinphy borrowed money from DeRouin and signed a document stating, “I have this day borrowed $ 12,000 from David DeRouin to be paid on demand. (Signed) Mrs. W. Hinphy and W. Hinphy.” More than three years ...Berra made out and signed a promissory note payable to the order of Streb. Streb placed a blank indorsement on the note and gave it to Harder. Harder in turn transferred the note by delivery alone ( no indorsement) to Bell. ...Roberts issued a negotiable instrument to Blackmar with a promise to provide Roberts with a complete gym set for use in the basement of his house. Roberts had been looking at this set in a catalog provided by Blackmar for ...Carl and Beulah Humphrey signed as maker and comaker of a note for a line of credit of $ 50,000 from the Grand Island Production Credit Association to purchase cattle. When the Humphreys failed to pay the outstanding balance ...Baron wrote a check for $ 250 payable to Tydings Automotive for car repairs. The check was written early in the day and processed by her bank and charged to Baron’s account that same day because Baron and Tydings were both ...
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