What is one requirement for an instrument to be negotiable regarding additional promises?

For an instrument to be considered negotiable, it is essential that it must contain no additional unauthorized promises or undertakings. This requirement ensures the clarity and certainty of the instrument, which are fundamental characteristics of negotiable instruments.

Negotiability implies that the instrument can be transferred freely from one party to another without the risk of additional, potentially confusing obligations attached to it. If an instrument includes unauthorized promises, it detracts from its simplicity and can lead to disputes, thereby undermining its function as a negotiable asset.

For example, in a promissory note, if it included extra conditions that were not part of the formal agreement between the parties, it would impede the holder's ability to enforce the payment easily. Therefore, maintaining the absence of such unauthorized commitments is crucial for preserving the instrument's negotiable status.