The plaintiff, U.S. Bank, filed a complaint to fore- close the defendant's mortgage because the defendant had failed to pay the monthly installments on the mortgage. However, the defendant purported to tender payment for the entire balance of the mortgage by an enclosed "Bonded Bill of Exchange." Attached to the bill were instructions on how to process it with the U.S. Treasury Department. The instructions stated that the defendant had established a "Personal Treasury UCC Contract Trust Account" through the Treasury Department and that the bill was a negotiable instrument that should be mailed to the secretary of the treasury for redemption. However, the bill tendered by the defendant was not made "payable to bearer or to order." Does the bill discussed in this case meet the six requirements for negotiability? If not, what requirement is not met? How do you think the court ruled?