A company has in its possession the following instrument:

This instrument is:

a. Not negotiable until December 1, 1987

b. A negotiable bearer note

c. A negotiable time draft

d. A nonnegotiable note because it states that it is secured by a conditional sales contract AppendixLO1

Transcribed Image Text:

$500.00 Dayton, Ohio October 2, 1987 Sixty days after the date I promise to pay to the order of Cash Five Hundred Dollars Miami, Florida at Value received with interest at the rate of nine percent. This instrument is secured by a conditional sales contract. No. 11 Due Dec. 1, 1987 Craig Burk Craig Burk