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Instructions: Analyze the following notes, and explain whether each is negotiable. You must identify which of the elements are missing. Please review each of the
Instructions: Analyze the following notes, and explain whether each is negotiable. You must identify which of the elements are missing. Please review each of the six (6) required elements for a negotiable instrument. Each Note is worth 10 points for a total of 20 points. Note #1: I, Justin Timberlake, promise to pay to the order of Julia Roberts, the sum of $4,000.00 on or before the 1st day of May 2022 with interest at five (5%) percent per annum. The maker hereof reserves the right to extend the time of payment of said note for six (6) months. Dated: Jan. 2, 2018 /s/ Justin Timberlake Note #2: We, Jada Pinkett Smith and Will Smith, promise to pay to the order of Ursula Buffet or bearer, the sum of $500.00 in silver coins, on or before the 1st day of January 2024. The maker(s) reserve(s) the right to extend the time of payment indefinitely. Dated: Jan. 2, 2019 /s/ Jada Pinkett Smith /s/ Will Smith
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