this question is related to chapter 20 - the formation of sales and lease contract. Book is " Business Law Text and Cases, 14th Edition"

1. On September 2, Neighbor Car Sales, a used-car dealer, wrote a letter to Randolph, which stated, "We have a 2003 Malibu Chevy in mint condition that we will sell you for $22,500 at any time before October 2. [Signed] Neighbor Car Sales." By September 15, having heard nothing from Randolph, Neighbor Car Sales sold the Malibu to another party. On September 25, Randolph told Neighbor Car Sales that he accepted the offer and tendered $22,500. When Neighbor Car Sales told Randolph it had sold the car to another party, Randolph claimed Neighbor Car Sales had breached their contract. State whether Neighbor Car Sales is in breach of their "contract" by stating and defining the law that is found in Chapter 20 of the textbook. Apply the law to the facts and state your conclusion.

2. On the back of an envelope, Clark writes, "I promise to pay Dobie or bearer $700 on demand. [Signed] Clark." What type of instrument is this? Is it negotiable? If not, why not? a. What type of instrument is this? Define. b. Is it negotiable? If not, why not?

3. Diesel Gas Corporation pays its employees every two weeks. Eddy, a Diesel Gas employee, receives her paycheck and indorses the back ("Eddy Seid"), but loses the check before cashing it or depositing it. Gary finds it then signs the back of the check beneath Eddy's signature. a. Has the check been negotiated to Gary? Explain why or why not by stating the law. b. If Gary signs the back of the check beneath Eddy's signature, can he cash it? Explain why or why not by stating and applying the law. c. If Gary can cash the check, what might Eddy have done to avoid the loss?