The accounting department of Delta Sales Company receives an instrument that states, “March 16, 2001.

The accounting department of Delta Sales Company receives an instrument that states, “March 16, 2001. Thirty days after date, I promise to pay to the order of cash, $700 (seven hundred and 00/100 dollars), in Denver, Colorado, with interest at the rate of 7% (seven percent) per year. This in­strument is secured by a contract for the sale of a computer. Due April 15, 2001. [Signed] Edward Jones.” Delta Sales Company negotiates the instrument to ABC Investments to cover an outstanding bill. When ABC attempted to collect from Edward Jones on April 16, 2001, he refused to pay stating the instrument was not negotiable. ABC sued Edward Jones and Jones asked the judge for a summary judgment. [