7. Roberts was a holder in due course of a properly drawn check payable to Bearer." He endorsed the check as follows: Pay to the order of Wilson Hall without recourse. [signed] Peter Roberts What type of endorsement did Roberts make? If Hall wishes to negotiate the instrument, what is required? Explain. 6. Horace Brace has in his possession the following instrument: November 1, 2017 1, Walter Forgel, hereby promise to pay Charles Smidlap ONE THOUSAND DOLLARS ($1,000.00) one year after date. This instrument was given for the purchase of FIVE HUNDRED (500) shares of Beefsteak Mining Corporation. Interest at 10 percent. [Signed] Walter Forgel Horace Brace purchased the instrument from Charles Smidlap at a substantial discount. Smidlap specializes in the sale of counterfeit mining stock. Walter Forgel is one of his innocent victims. What are the rights of Brace against Forgel on the instrument? Explain. 3. Moira executed a note and a purchase money mortgage to Al. Al negotiated the note to Tiger Bank. The note contained the following stipulation: "This note with interest is secured by a mortgage on real estate, of even date herewith, made by the maker hereof in favor of the said payee. The terms of said mortgage are by this reference made a part hereof." Is the note negotiable? Explain. 7. Roberts was a holder in due course of a properly drawn check payable to Bearer." He endorsed the check as follows: Pay to the order of Wilson Hall without recourse. [signed] Peter Roberts What type of endorsement did Roberts make? If Hall wishes to negotiate the instrument, what is required? Explain. 6. Horace Brace has in his possession the following instrument: November 1, 2017 1, Walter Forgel, hereby promise to pay Charles Smidlap ONE THOUSAND DOLLARS ($1,000.00) one year after date. This instrument was given for the purchase of FIVE HUNDRED (500) shares of Beefsteak Mining Corporation. Interest at 10 percent. [Signed] Walter Forgel Horace Brace purchased the instrument from Charles Smidlap at a substantial discount. Smidlap specializes in the sale of counterfeit mining stock. Walter Forgel is one of his innocent victims. What are the rights of Brace against Forgel on the instrument? Explain. 3. Moira executed a note and a purchase money mortgage to Al. Al negotiated the note to Tiger Bank. The note contained the following stipulation: "This note with interest is secured by a mortgage on real estate, of even date herewith, made by the maker hereof in favor of the said payee. The terms of said mortgage are by this reference made a part hereof." Is the note negotiable? Explain