1. a. Identify and explain the requirements for becoming a holder in due course. Read and be prepared to orally brief and discuss Turman v. Ward's Home Improvement, Inc. (see attached file) b. Why was Pomerantz not a holder in due course? c. Why is it significant for Pomerantz to be a holder in due course? d. Answer the question posed at the end of the case: (1) Critical Thinking Question: Does the UCC over-emphasize formality in its requirements for transferring a negotiable instrument? Explain. 2. a. What do we mean by the holder in due course must give value? What is value? 3. a. Identify, define, and explain the real defenses. b. Define and explain personal defenses. Read and be prepared to orally brief and discuss Federal Deposit Insurance Corporation v. Meyer see attached file). c. When is the illegality defense available under the UCC? d. How does a void contract differ from one that is voidable? e. When does a threat become duress? f. Answer the question posed at the end of the case: (1) Critical Thinking Question: What other defenses, if any, should be real defenses.