The gym member then takes the statement and goes to the locker room to change and secure a method of paying the statement. In the locker room, he remembers he left his wallet locked in the glove compartment of his locked car, thinking he wouldnt need it in the gym. He looks through his gym bag and finds his checkbook but when he opens it there are no check blanks, just a deposit slip. He takes his sweaty T-shirt and writes, Pay to the order of Atlas Gym, the dollar amount (in numbers and in letters) and copies the bank routing number from the deposit slip and his account number on the T-shirt and signs it, with a permanent marker he finds in his bag. The member thinks to himself that it serves them right to have to deal with his stinky, sweaty T-shirt after the embarrassment they caused him. On his way out he stops at the staff desk and opens the T-shirt to reveal the writing and says, Here is your payment. The staff member at desk says, This isnt payment. We cant accept this. The member says, It is all I have, and you will have to take it. The staff member calls the manager, and a small argument ensues with the member.

The manager calls the accountant to determine if this is an acceptable payment. You are the accountant. Determine if this is an acceptable payment. Is this a negotiable instrument? Why or why not? Review the requirements for a negotiable instrument and discuss how it meets or does not meet the requirements for a negotiable instrument.