Negotiable Instrument

Plymouth Horizon automobile, gutter Lowbrows gave sortie a handwritten honor which stated the following l promise to pay $ five hundred In two equal installments on July 1, 2013 and August 1, 2013. The following language was include on the back of the indite The 1990 Plymouth Horizon which Is the idea of this transaction serves as collateral to desexualize re allowance of this punctuate. The maker agrees not to sell or otherwise dispose of the collateral.Please have the corresponding security agreement for rights and obligations clever thereto. Is this a transportable factor? RULE 3-106 permits the Instrument to signify the expatiate of the underlying crusade without destroying negotiability as long as payment of the note is not do present to the performance of that contract. In exchange for Sally Johnnys 1990 Plymouth Horizon automobile, John $500 in two equal installments on July 1, 2013 and August 1, 2013.The following is the subject of this transaction serves as c ollateral to secure refund of this note. A negotiable instrument? S 3-106 permits the instrument to mention the details of the underlying contract without destroying negotiability as long as payment of the note is not made subject to the performance of that contract. The instruments is negotiable because It character the content of the contract regarding rights to refund and acceleration.Negotiable InstrumentPlymouth Horizon automobile, John Lowbrows gave Sally a handwritten note which stated the following l promise to pay $500 In two equal installments on July 1, 2013 and August 1, 2013. The following language was included on the back of the writing The 1990 Plymouth Horizon which Is the subject of this transaction serves as collateral to secure repayment of this note. The maker agrees not to sell or otherwise dispose of the collateral.Please see the corresponding security agreement for rights and obligations pertinent thereto. Is this a negotiable Instrument? RULE 3-106 permits the Instrument to mention the details of the underlying contract without destroying negotiability as long as payment of the note is not made subject to the performance of that contract. In exchange for Sally Johnnys 1990 Plymouth Horizon automobile, John $500 in two equal installments on July 1, 2013 and August 1, 2013.The following is the subject of this transaction serves as collateral to secure repayment of this note. A negotiable instrument? S 3-106 permits the instrument to mention the details of the underlying contract without destroying negotiability as long as payment of the note is not made subject to the performance of that contract. The instruments is negotiable because It reference the content of the contract regarding rights to repayment and acceleration.