Cengage Advantage Books: Business Law 9th Edition by Arnold Goldman ,William Sigismond

تمرين 16

Mills agreed to lend $500 to her friend, Allen. Allen had a birthday coming up, and heknew he would be receiving gifts of money that he could use to repay the loan. Hegave Mills an instrument dated March 2 that said, "One week after I become 22 yearsof age, I promise to pay to the order of Barbara Mills the sum of $500. (Signed)WilliamAllen."
Questions
1. I s this a valid instrument? Why or why not?
2. I s this instrument negotiable? Why or why not?