Please help me with these two questions. Thank you so much.

Analyze the following notes, and explain whether each is negotiable.Please review each of the six (6) required elements for a negotiable instrument.

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

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