Business Law 13th Edition by Frank Cross, Kenneth Clarkson, Roger LeRoy Miller

Exercise 15

Sasha owes $600 to Yale, who asks Sasha to sign an instrument for the debt. Suppose that each of the following is included on that instrument: "I.O.U. $600," "I promise to pay $600," or an instruction to Sasha's bank stating, "I wish you would pay $600 to Yale." Which of these phrases would prevent the instrument's negotiability? Why? (See page 483.)