<Tr> <Td> "</Td> <Td> § 3 - 104 . NEGOTIABLE INSTRUMENT . <P>... </P> <P> (d) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this Article . </P> </Td> <Td>" </Td> </Tr> <P> (d) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this Article . </P> <P> Thus, a writing containing such a disclaimer removes such a writing from the definition of negotiable instrument, instead simply memorializing a contract . </P> <Table> <Tr> <Td> "</Td> <Td> § 83 . BILLS OF EXCHANGE ACT 1882 . Part IV . <P>... </P> <P> Promissory note defined </P> <P> (1) A promissory note is an unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money, to, or to the order of, a specified person or to bearer . </P> <P> (2) An instrument in the form of a note payable to maker's order is not a note within the meaning of this section unless and until it is indorsed by the maker . </P> <P> (3) A note is not invalid by reason only that it contains also a pledge of collateral security with authority to sell or dispose thereof . </P> <P> (4) A note which is, or on the face of it purports to be, both made and payable within the British Islands is an inland note . Any other note is a foreign note . </P> </Td> <Td>" </Td> </Tr> </Table>

The time of a note issued for less than one year is typically stated in