Kevin, the owner of Livestock Ranch Corporation, signs an instrument that includes the phrase "payment for this note will be made from the pro?ceeds of next year's stock sale." This instrument is
A) negotiable.
B) nonnegotiable, because information about the sale must be ob?tained from another source.
C) nonnegotiable, because it states an express condition to payment.
D) nonnegotiable, because the reasons for the note are not clear.

Question

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The Answer of Kevin, the owner of Livestock Ranch Corporation, signs an instrument that includes the phrase "payment for this note will be made from the pro?ceeds of next year's stock sale." This instrument is
A) negotiable.
B) nonnegotiable, because information about the sale must be ob?tained from another source.
C) nonnegotiable, because it states an express condition to payment.
D) nonnegotiable, because the reasons for the note are not clear.

Kevin, the Owner of Livestock Ranch Corporation, Signs an Instrument