HWANG BANKRUPTCY CASE – MOTION TO LIFT THE AUTOMATIC STAY IS DENIED. What is a negotiable instrument under California Commercial Code Section 3104

The following code is used for a blog we are creating to discuss the California Hwang bankruptcy case:

3104.  (a) Except as provided in subdivisions (c) and (d),
"negotiable instrument" means an unconditional promise or order to
pay a fixed amount of money, with or without interest or other
charges described in the promise or order, if it is all of the
following:
   (1) Is payable to bearer or to order at the time it is issued or
first comes into possession of a holder.
   (2) Is payable on demand or at a definite time.
   (3) Does not state any other undertaking or instruction by the
person promising or ordering payment to do any act in addition to the
payment of money, but the promise or order may contain (i) an
undertaking or power to give, maintain, or protect collateral to
secure payment, (ii) an authorization or power to the holder to
confess judgment or realize on or dispose of collateral, or (iii) a
waiver of the benefit of any law intended for the advantage or
protection of an obligor.
   (b) "Instrument" means a negotiable instrument.