1-List the six (6) formal requirements of a negotiable instrument.

2- Describe drafts, checks, promissory notes, and certificates of deposit, and identify the parties to these instruments.

3- Define holder in due course.

4- Define electronic fund transfer systems.

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?

(a)What are his rights in the event of a dispute?

(b)Does Zeke qualify as a holder in due course?

(c)Does it make a difference whether the check is order paper or bearer paper?

(d)What if, after Zeke receives the check, Damien steals it.What are Damien's rights?