Lewis makes a note payable to Milly. She indorses the back of the note and negotiates it to Negotiable Investments, Inc. Primarily liable on the note is a. Lewis.

b. Negotiable Investments.

c. none of the choices.

d. Milly.

Petra signs a check payable to Quentin, who indorses the back, gives it to Regional Credit Union (RCU), and receives cash. The transfer of the check from Quentin to RCU is

a. an assignment.

b. a sale.

c. a negotiation.

d. a payment.