Assignment problem: Marvin Gaye owns a business. Jeffrey Osborne bought 100 widgets from him. To pay for the widgets he issued a note, payable to Marvin Gaye. The note provides that "I, Jeffrey Osborne, promise to pay to Marvin Gaye, as per our agreement for the purchase of widgets, 100,000 dollars to be paid in 10 equal payments of 10,000 dollars each on the first of each month until paid." Jeffrey signed his name using a stamp, which is an image of his first Grammy Award, and he placed the stamped image in the top right corner of the undated note.
1. Identify two elements of negotiability that are called into question, raised, or implicated by this fact scenario and explain each element and whether the facts support each of the two elements you identified. But, in answering this part of the question, do not state your conclusion as to whether or not this is a negotiable instrument. Instead, you should just discuss the two elements you identified.
2. State your conclusion as to whether this is a negotiable instrument. Explain why or why not. You can refer to your answer to the previous parts of this question to support your conclusion.