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• Include in-text citations and a Reference List for in-text citations
• Use only assigned materials to complete Learning Activities; do not use internet unless otherwise instructed
• Write in correct, complete sentences, in paragraph format unless otherwise instructed

Background:

The PI owners are a bit confused and concerned about the meaning of, and possible liabilities related to, negotiable instruments.Gale and Pat have given you the responsibility of preparing some hypothetical scenario examples and explanations related to negotiable instruments to clarify the owners' questions and concerns.

Instructions:

First, review the requirements necessary for a check to be a negotiable instrument.

Analyze and summarize information and prepare responses to Parts I and I below to discuss with the PI owners.

Part I.

1.Explain the primary potential risks associated with PI's dealing with negotiable instruments and why.

2.Analyze and write an explanation to the questions for the following hypothetical scenario.

Scenario A:As part of PI's community involvement, the company has become the title sponsor for a local charity golf tournament. After the tournament and during the awards luncheon, PI will be presenting the charity beneficiary with a check for the proceeds from the day's activities. They want to present the check on an 18 in x 24 in cardboard.

Can this 18 in x 24 in cardboard check be a negotiable instrument? Why or why not?

• Refer to all the requirements for negotiability in the explanation.

3.Create an original hypothetical scenario in which PI becomes a holder in due course, and explain why/how.

• Refer to all the requirements for negotiability in the explanation.

4.Analyze and explain why the holder in due course doctrine is important to PI's business?