1. List the six (6) formal requirements of a negotiable instrument. (6 points) 2. Describe drafts, checks, promissory notes, and certificates of deposit, and identify the parties to these instruments. (4 points) 3. Define holder in due course. (1 point) 4. Define electronic fund transfer systems. (1 point) 5. Jennifer receives a $10,000 check that is not payable to any specific person. She earned the funds from a successful appearance on a game show. She want to give her earnings to her little brother, Zeke, as a gift for graduating from college. She transfers the check to Zeke. Does Zeke have title to the funds? (1 point) What are his rights in the event of a dispute? (1 point) Does Zeke qualify as a holder in due course? (1 point) Does it make a difference whether the check is order paper or bearer paper? (1 point) What if, after Zeke receives the check, Damien steals it. What are Damien's rights? (1 point)