Smith has in his possession the following instrument: September 1, 2003 I, Selma Ray, hereby promise to
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September 1, 2003
I, Selma Ray, hereby promise to pay Helen Savit One Thousand Dollars ($1,000) one year after date. This instrument was given for the purchase of Two Hundred (200) shares of Redding Mining Corporation, Interest 6%.
Selma Ray (signature).
What is this instrument? Is it negotiable?
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The instrument is a promissory note The reference to the purchase of stock shares does no...View the full answer
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Related Book For 
Andersons Business Law and the Legal Environment
ISBN: 978-0324786668
21st Edition
Authors: David p. twomey, Marianne moody Jennings
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