Sid Signs a Promissory Note Payable to Tony on Which

Multiple Choice

Sid signs a promissory note payable to Tony on which Sid conspicuously notes that it is "not negotiable" and gives the note to Toney. This instru?ment is

A) negotiable.
B) nonnegotiable, because it includes the notation "not negotiable."
C) nonnegotiable, because it is a promissory note.
D) nonnegotiable, because it was given to Bob.