Heidi borrowed $35,000 from Leopold Mortgage Corp.and signed a promissory note secured by a deed of trust on the land she owned.The note provided for interest at "30% over prime to be adjusted monthly." Is a note providing for a variable amount of interest,not ascertainable from the face of the note,a negotiable instrument?

Question

Quizplus · Accepted Answer

The Answer of Heidi borrowed $35,000 from Leopold Mortgage Corp.and signed a promissory note secured by a deed of trust on the land she owned.The note provided for interest at "30% over prime to be adjusted monthly." Is a note providing for a variable amount of interest,not ascertainable from the face of the note,a negotiable instrument?

Heidi Borrowed $35,000 from Leopold Mortgage Corp