Which type of negotiable instrument

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Reference no: EM131448811

Jacob's company receives a document from Tessa Brown which states, "Forty-five days after the undersigned date, I promise to pay $1,000.00 (one thousand dollars and no cents) at a rate of 8.75% interest (eight and three quarter percent) per year to the bearer. Delivery shall be made at Jacob Company's corporate offices in Austin, Texas. Security included for this is a 2000 Honda Accord. [Signed] Tessa Brown. [Dated] October 7, 2011."

1. Is this a negotiable instrument? Explain

2. Which type of negotiable instrument is this? Explain

Reference no: EM131448811

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