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Cool McCool signed a dated writing stating, I promise to pay to the order of Tenessee Tuxedo that which I owe him by delivering to

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Cool McCool signed a dated writing stating, "I promise to pay to the order of Tenessee Tuxedo that which I owe him by delivering to his place of address a ruby of at least one (1) carat three months from the date hereof." 1. Is this a negotiable instrument? 2. Even if this writing does not qualify as a negotiable instrument under UCC Article 3, does that mean it has no legal significance

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