Henry Hughes, who operates a department store, executed the
following instrument:
$2,600 Chicago, March 5, 2018
On July 1, 2018, I promise to pay Daniel Dalziel, or
order, the sum of Twenty-Six Hundred Dollars for the
privilege of one framed advertising sign, size 24 × 36
inches, at one end of each of two hundred sixty motor
coaches of the New Omnibus Company for a term of
three months from May 15, 2018.
Henry Hughes
Is this instrument negotiable? Explain.