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Alvin signs a promissory note payable to the order of Borrow & Spend Loan Company. The note states that it is payable with interest at

Alvin signs a promissory note payable to the order of Borrow & Spend Loan Company. The note states that it is payable with interest at the legal rate. This note is

a. nonnegotiable, because it is payable only with interest.

b. nonnegotiable, because it does not specify a rate of interest.

c. nonnegotiable, because it is a promissory note.

d. not necessarily nonnegotiable.

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