You win a game of poker and your two opponents (one American and the other German) write you two separate I.O.U.s. They initially start with “I, the undersigned, do acknowledge. . .” Because you know that a mere acknowledgement is not a promise, you ask them to rewrite it. They start again: “I, _________, the undersigned, acknowledge that I owe________ ten million dollars, payable in London on October 6, 2012. Signed at Tripoli.” Would this constitute a negotiable promissory note? Is there a problem if the instrument is non-negotiable from the maker’s point of view? Discuss.