Jacob's company receives a document from Tessa Brown which states, "Forty-five days after the undersigned date, I promise to pay $1,000.00 (one thousand dollars and no cents) at a rate of 8.75% interest (eight and three quarter percent) per year to the bearer.
Delivery shall be made at Jacob Company's corporate offices in Austin, Texas.
Security included for this is a 2000 Honda Accord. [Signed] Tessa Brown. [Dated] October 7, 2011."
1. Is this a negotiable instrument? Explain
2. Which type of negotiable instrument is this? Explain