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State whether the following provisions in an instrument otherwise in the proper form make the instrument nonnegotiable and explain why: A note stating, This note
State whether the following provisions in an instrument otherwise in the proper form make the instrument nonnegotiable and explain why:
- A note stating, "This note is secured by a mortgage of the same date on property located at 1436 Dayton Street, Jameson, New York"
- A note for $25,000 payable in twenty installments of $1,250 each that provides, "In the event the maker dies all unpaid installments are cancelled"
- An instrument reading, "I.O.U., Rachel Donaldson, $3,000"
- A note for $1,500 "payable to the order of Marty Dooley, six
- months after Nick Solster's death"
- A note A note reading, "I promise to pay Rachel Donaldson $3,000"
- A note stating, "In accordance with our telephone conversation of
- January 7th, I promise to pay Sally Wilkenson or order $1,500"
- An undated note for $1,500 "payable one year after date"
- for $18,000 payable in regular installments also stating, "In the
- event any installment is not made as provided here, the entire amount remaining unpaid may become due immediately"
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