Negotiable instruments are the major way that we in business exchange money.We do not carry large amounts of cash or even certified checks for most of our business transactions.Negotiable instruments afford us the security to exchanging large sums of money using paper only.

Please answer the following questions pertaining to your chapter 16 material.Please send your responses as an attachment or drop-box item when finished.

1. Notes are p_________ to pay money.
2. Drafts are o_________to pay money.

1. What should we do with a draft when we accept it?Why?

1. Please list the words of negotiability that we can use in business on negotiable instruments.

1. Define an Allonge.Why is it important to us in business?