Provision mean that the note is not negotiable

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Reference no: EM131500486

Justin recently purchased a car and signed a promissory note payable to Fred's Ford Motors in the amount of $10,000. The note is payable in monthly installments over the next 48 months. The note contains an acceleration clause that states that if Justin fails to make two consecutive payments on the note, Fred's can declare the full amount immediately due and payable. Does this provision mean that the note is not negotiable?

Reference no: EM131500486

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