ALTERNATE CASE PROBLEMS CHAPTER 25 NEGOTIABLE INSTRUMENTS 25-1. Bearer Instruments. Gilbert Ramirez claimed that he had purchased a winning lottery ticket, the prize for which was approximately $1.5 million. Unfortunately, Ramirez had lost the ticket itself and therefore could not claim the prize. Even though the evidence indicated that he very likely was indeed the purchaser of the winning ticket, under the state lottery rules, he could not claim the prize unless he produced the winning ticket. In a legal action brought by Ramirez against the state lottery bureau, Ramirez claimed, among other things, that the lottery ticket was a negotiable instrument because on the back of each lottery ticket were the following words: "THIS TICKET IS A BEARER INSTRUMENT SO TREAT IT AS IF IT WERE CASH." Because the owner of a lost negotiable instrument can collect on the instrument if certain requirements are met-such as establishing proof of ownership, the terms of the instrument, and so on- Ramirez argued that he should be allowed to claim the prize if he could meet these requirements. Discuss fully whether Ramirez will succeed in his claim that the lottery ticket was a negotiable instrument. (Ramirez v. Bureau of State Lottery, 186 Mich.App. 275, 463 N.W.2d 245 (1990)