What are the requirements for an instrument to be negotiable? In your answer, give an example of a negotiable instrument and a non-negotiable instrument from your experience.

1. How is a check different from other drafts?

2. What are the requirements for an instrument to be negotiable? In your answer, give an example of a negotiable instrument and a non-negotiable instrument from your experience.

How do the requirements of the Electronic Funds Transfer Act effect your understanding of negotiable instruments?