"Question: (But without Answer)anybody else can send?
Negotiability of an instrument – promissory note
Muhammad Mussadegh purchased a store in Abadan from Reza Khan for 100,000 GBP. To pay for the store, Mussadegh signed a promissory note that contained the following two clauses:
• On or before January 1st 1992, I promise to pay Reza Khan or bearer 100,000 pounds sterling in cash or deliver title to my house in Tehran, at the holder’s option;
• The maker of this promissory note hereby reserves the right to extend the time of payment for six months; and the holder reserves the right to extend the time of payment indefinitely.
1. Is this instrument negotiable or nonnegotiable?"
