Sarah is in possession of an Instrument from Micheal. This instrument is to pay a mortgage at its legal rate of interest, it is written to include an unconditional promise and payment to Micheal on Monday June 29, 2020. The instrument was signed by Sarah and Micheal at the time of its creation. Is this a negotiable instrument?
1) Yes
2) No, it is missing a fixed amount of money
3) No, mortgages are non-negotiable liabilities
4) No, this is a promissory note and only drafts are negotiable