Business Law and the Legal Environment 7th Edition by Jeffrey Beatty,Susan Samuelson

Exercise 5

Teri and Jerry entered into a contract with a real estate developer that provided he would build the house of their dreams on a lot that he owned. In payment for the property and the house, T J signed a promissory note which was payable, "upon closing on sale of the house to be constructed on the below described lot or one year from the date of this Note, whichever event first occurs." Is this note negotiable?