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In denver colorado with interest at the rate of 700 seven

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The account department of Delta Sales company receives an instrument that states: "March 16, 20 1 1. Thirty days later date. I promise to pay to the order of cash. S700 (seven hundred and 00/100 dollars). In Denver, Colorado with interest at the rate of 700 (seven percent) per year. This instrument is secured by a contract for the sale of a computer. Due April 15, 2011. [Signed] Edward Jones." What type of instrument is this? Is it negotiable? if not, why not? Discuss all aspects of your answers to the three questions posed.

Reference no: EM13567274

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