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Consider this week’s learning activities on negotiable instruments and read the following scenario.Then, complete Individual Works #1 and #2 as directed below. You are interested in ing a new car and Bob let’s you borrow one of the new cars on his lot for a week to test drive. You decide you like the car and when you visit Bob to drop off the car, he hands you the following document and a pen:

May 1, 201x

I promise to pay to the of Bob’s Auto Emporium $20,000 (Twenty thousand dollars) with interest at the rate of 7% per annum.

What type of instrument is this? Does this instrument meet the requirements for negotiability under the UCC?

These individual work assignments should each include the following: You may use your text or the internet as a reference, but remember to cite your sources according to APA guidelines. Requirements: An in-depth submission that should be free of spelling and grammar errors. An essay containing a minimum of 150 words. You will be assessed on the rationale you use in addressing the questions/issue posted, and how well you justify your argument regarding this issue. Your response must be thought provoking, have well developed ideas and/or opinions, and should reference any supporting material from the text, lecture or other sources you have used to complete the assignment.