Jayla and Jamal enter an agreement in which Jamal agrees to pay Jayla $500 over the next three months for a new stereo. Jamal calls Jayla on the phone and promises to pay her the entire $500 no later than 90 days from that date. This agreement fails to constitute a negotiable instrument, because negotiable instruments must

A. state a fixed amount of money.

B. is in writing.

C. be payable on demand or at a definite time.

D. states an unconditional promise or order to pay.

Answer rating: 100% (QA)

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