Article 3, 5, 7

Question 1

Requirements for Negotiability

Answer 1

1. In writing
2. Signed
3. Unconditional promise or order
4. Certain sum of money
5. Payable on demand or definite time
6. Payable to order or bearer

Question 2

Endorsements

Answer 2

1. Blank: Specify no holder
2. Special: Specify a person to whose payment or order
3. Qualified: Without recourse, disclaims contract liability
4. Restrictive: Conditional, prohibitive, for deposit