1-Mark Merchant sells lamps.Brain Buyer negotiates with Mark to buy 100 lamps to sell in his store.Mark tells Brian that his lamps are "made of 14K gold" and "are the finest-crafted lamps in the Western hemisphere."The lamps look like sculptures of famous ballerinas with lampshades.Brian agrees that they are quite beautiful and he agrees to purchases 100 lamps from Mark.However, when he receives the lamps, none of them work.In addition, he takes the lamps to an appraiser and finds that the lamps are made of cooper.

(a)What are Brian's theories of recovery?

(b)What are Brian's arguments?

(c)What are Mark's arguments?

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

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

4- Define holder in due course.

5- Define electronic fund transfer systems.