Required information 2. Defenses and Third-Party Claims Defenses and Third-Party Claims An advantage of negotiable instruments they are easily transferrable by negotiation. However, holders and holders in due course have defenses to payment on an instrument. Virginia decided that she would like to bury new living room furniture. She sold her old couch to Sven which he paid for whit a check for $300. Virginia picked out a new living room set 8 ig Tent Furniture, which cost $3,300. To pay for the new furniture Virginla indorsed check from Sven by signing her name on the back of the check and gave it to 8ig Tent. For the remaining $3,000 Big Tent had Virginia sign a promissory note in which she would pay back the $3.000 plus interest in equal monthly installments for the next fifteen months. Big Tent, in order to have better cash flow decided to sell the promissory note at a discount to First Factoring. Kevin, the owner of Big Tent, negotiated the loan by signing his name and "payable to First Factoring" on the back of the note. First Factoring then packaged yge promissory note with several othet notes and negotiated the sale of the loans to investors. Kevin then gove the check for $300 to his daughter Isabella for her college graduation. Isabelia deposited the check in her account at Union State Bank, writing "For Deposit Only" and signing her name on the back. 2e. Assume that the promissory note did not... Assume that the promissory note did not contain the oppropriate Holder Rule notice Which of the following should First Financing contact to report this violation? The Securities Exchange Commission (SEC). The Federal Banking Commission (FBC) The Federal Trade Commission (FTC). The Federat Deposit insurance Corporation (FDIC) The Commodities Future Trading Commission (CFIC)