Question: 3. (4 Points) Explain what is negotiation and what it means to make a party a holder of a negotiable instrument. 4. (4 Points) Explain

3. (4 Points) Explain what is "negotiation" and what it means to make a party a holder of a negotiable instrument. 4. (4 Points) Explain how one would negotiate "order" paper and how one would negotiate "bearer" paper. 5. (4 Points) Explain what is a blank endorsement is and how it can change the character of a negotiable instrument. 6. (4 Points) Explain what is a special endorsement is and how it can change the character na nan

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