The accounting department of Delta Sales Company receives an instru?ment that states,"March 16,2011.Thirty days after date,I promise to pay to the order of cash,$700 (seven hundred and 00/100 dollars),in Denver,Colorado,with interest at the rate of 7% (seven percent)per year.This in?strument 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 nego?tiable? If not,why not?

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The Answer of The accounting department of Delta Sales Company receives an instru?ment that states,"March 16,2011.Thirty days after date,I promise to pay to the order of cash,$700 (seven hundred and 00/100 dollars),in Denver,Colorado,with interest at the rate of 7% (seven percent)per year.This in?strument 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 nego?tiable? If not,why not?

The Accounting Department of Delta Sales Company Receives an Instru?ment