The video tutorial explains the elements of negotiability concerning payment on time or demand. It discusses how negotiable instruments are payable either on demand or at a specified time. If no indication is present, it is assumed to be payable on demand. External evidence can suggest a time payment, but if not indicated in the instrument, it may not be negotiable. Instruments with ascertainable dates remain negotiable, even with acceleration or prepayment clauses.

What is required for a payable on time instrument to remain negotiable?

How do acceleration and prepayment clauses impact the negotiability of an instrument?