6. Explain the rationale for the following statement: "The purpose of holder-in-due-course status is to encourage parties to engage in financial transactions." 7. What are the requirements of holder-in-due-course status? 8. Define the shelter principle. Chapter 28 9. Outline the necessary information to determine signature liability. 10. What is the distinction between primary and secondary authority liability for a signed negotiable instrument? 11. Evaluate the following statement: "A party can never be held liable for a negotiable instrument if he or she did not sing the check." 12. What are the similarities and differences between transfer and presentation warranties. 13. Explain how to avoid liability for negotiable