Last October, Johnny Evers Sold a Gross of Baseballs to Joe

Multiple Choice

Last October, Johnny Evers sold a gross of baseballs to Joe Tinker for $750.(Small items are often sold in a "gross." A "gross" is a dozen dozens, which is 144.) In payment for the baseballs, Tinker drew a negotiable instrument on his account at Wrigley's Bank and named Evers as the payee.On the same day that he sold the baseballs to Tinker, Evers purchased a ticket to a World Series game from Frank Chance for $750.In order to pay for that ticket, Evers turned over the negotiable instrument that he had received from Tinker, wrote the words "Pay to Frank Chance," and signed his name.At that point, the negotiable instrument most likely consisted of

A) a promissory note with a transferring endorsement.
B) a bill of exchange with a second-party endorsement.
C) a cheque with a special endorsement.
D) a cheque with a closed endorsement.
E) an invalid cheque.