Malik purchased goods on credit from Rae for $50,000, with the payment due in four months. A month later, Malik sold goods to Donny on credit for $50,000, with the payment due in two months. Malik and Donny then wrote an agreement wherein Malik directed Donny to pay Rae the $50,000 that Donny owed Malik within two months. What is the nature of the transaction?

Question 10 options:

	The agreement is a promissory note between Malik and Donny.
	The agreement makes Malik a holder in due course.
	The agreement is a bill of exchange with Donny being the drawee and Rae being the payee.
	The agreement makes Donny a drawer in the transaction.