Section 6 Fixed Amount of Money With or Without Interest or Other Charges

• Library: Commercial Law 2007

The promise or order in an Article 3 negotiable instrument must be “to pay a fixed amount of money, with or without interest or other charges described in the promise or order.” Section 400.3-104(a), RSMo Supp. 2006. The amount due under the instrument must be payable in a medium of exchange authorized or adopted by a domestic or foreign government as part of its currency. Section 400.1-201(24), RSMo Supp. 2006. Unless the instrument provides otherwise, an instrument that states the amount payable in foreign currency may be paid in...