Henry Hughes, who operates a department store, executed the following instrument:
$2,600 Chicago, March 5, 2010 On July 1, 2010, 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, 2010. Henry Hughes Is this instrument negotiable? Explain.