Question
QUESTION 3. An instrument reads as follows $25,000 Mt. Pleasant MI February 14, 2008 I promise to pay to the order of Paste Jewelry Corp.,
QUESTION 3. An instrument reads as follows
$25,000 Mt. Pleasant MI February 14, 2008
I promise to pay to the order of Paste Jewelry Corp., $25,000 within 10 days after the sale of my three carat diamond ring. I pledge the sale proceeds to secure my obligation hereunder.
s/Robert Mack
Is the instrument negotiable?
What about the reference to the payment based on the sale of the ring?
What about the time for payment? Date certain?
Is this a negotiable promissory note?
Is it in writing?
Is the amount due certain or can be calculated based on the face of the instrument?
Is this Order paper?
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