1/ Explain each of the two practical limitations concerning the writing evidencing a negotiable instrument and the substance on which it is placed.

2/ Negotiation is the transfer of an instrument

a. when the parties have a meeting of the minds.

b. in such form that the transferee becomes a holder.

c. in conjunction with contract discussions.

d. with the transfer of funds in a local bank.

3/Joey writes a check "payable to bearer" and hands it to Hank. Ida steals the check and delivers it to Jake, an innocent third person. Hank can recover the proceeds of the check from

a. Joey.

b. Jake.

c. Ida.

d. no one.