On a Sheet of Paper, Elle Writes, Without Her Signature

question 61

Essay

On a sheet of paper, Elle writes, without her signature, "I acknowledge that I owe Frank $600, payable out of the proceeds of the sale of my car, a 1995 Honda Civic, which I promise to advertise 'For Sale' next week. Payment is to be made on or before six months from today." What type of instrument is this? Is it negotiable? If not, why not?

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Definitions:

Small Business Owners

Individuals who own and operate a company that is small in size based on government standards or industry definitions.

Significant Business Decisions

Major decisions that affect the direction, operations, and strategy of a business, often requiring careful planning and consideration.

Lawyers

Professionals licensed to practice law, representing and advising clients in legal matters.

Ethical Behaviour

Acting in ways consistent with what society and individuals typically think are good values.