Shamrock owns a unique little company called WORMS-R- US that supplies all the worms that you see in the bottom of bottles of tequila. Shamrock enters into a contract with MANUAL MANURE, a Spanish worm grower, to buy 1000 pounds of Grade A worms for $2,000. Shamrock gives Manual a promissory note in the amount of $2,000, payable to the order of Manual Manure and payable on demand. The note is signed by

Shamrock and the worms are to be delivered to Shamrock within 10 days of the signing of the promissory note at which time Shamrock will pay the sum of $2,000 plus interest to Manual. Manual takes the promissory note to his good friend MEYER GOLDBERG, a Jewish candle maker, and asks Meyer if he would buy the promissory note. Meyer agrees and gives Manual a check for $2,000 payable to the order of Manual Manure and Manual endorses the back of the promissory note by qualified endorsement and gives the note to Meyer. The check is written on the Deposit Bank & Trust Company. Manual takes this check to the Bank, signs the back of the check with a blank indorsement and he cashes the check. Manual promptly looses the $2,000 in a game in the basement of Our Lady of Losers Catholic Church and Manual delivers no worms to Shamrock. After ten days Meyer demands payment of the promissory note from Shamrock and Manual. Using this fact situation please answer the following questions: A. Who of the above named parties would be best described as: 1. Endorser: 6. Maker: 2. Endorsee: 7. Payee: 3. Bearer: 8. Holder 4. Drawer: 5. Drawee:

B. What are Meyers rights to collect the $2,000 on the promissory note from Shamrock and Manual and under what theory or theories of law can he collect or not collect?