Question
Commercial Credit Company has in its possession an instrument dated May 1, 2017. The instrument is payable to the order of the Alpha Company on
Commercial Credit Company has in its possession an instrument dated May 1, 2017. The instrument is payable to the order of the Alpha Company "on June 1, 2017," for $50,000. In the upper left corner is an address for Beta Corporation --- 10 Corporate Park Avenue; Chicago, Illinois --- and in the lower right corner is the signature of "Delta, Inc. By Bill, President." In the lower left corner is stamped "ACCEPTED: Beta Corporation, by Sean, President, May 5, 2017." On the back is the signature of "Alpha Company by Megan, President." What type of instrument is this?Is it negotiable? Who, if anyone, is primarily liable on tis instrument on May 1?On May 5? Who, if anyone, is secondarily liable on this instrument?
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