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On June 1 , 2 0 1 4 , Rex executed a promissory note and he delivered the note to Sam West. The note stated,
On June Rex executed a promissory note and he delivered the note to Sam West. The note stated, On June I promise to pay to the order of Sam West One Thousand Dollars $ together with annual interest at the rate of ten percent per year."
Classify the parties to the promissory note.
Is the note negotiable or nonnegotiable
Is the note order paper or bearer paper?
Would the note be negotiable if it instead required Rex to pay interest at the rate of percent over the prime rate charged by Citicorp Bank from time to time?
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