- 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.
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