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Q2: On a sheet of paper, Janet writes, without her signature, I acknowledge that I owe Steve $600, payable out of the proceeds of the

Q2: On a sheet of paper, Janet writes, without her signature, "I acknowledge that I owe Steve $600, payable out of the proceeds of the sale of my car, a 2001 Ford XLTR, which I promise to advertise 'For Sale' next week. Payment is to be made on or before six months from today."

  • What type of instrument is this?
  • Is it negotiable? If not, why not?

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