Identifying the Facts and Issues

The Uniform Commercial Code $($UCC$)$ has the following requirements for instruments to be

negotiable: the instrument must be in writing, the instrument must be payable to order of or

to the bearer, the instrument must include an unconditional promise, the instrument must

state a fixed amount of money, the instrument must be payable on demand, and

the instrument must state a variable amount of money

A transfer of an order instrument requires the

of the payee. An

indorsement is a

select answer

$,$ which is typically placed

select answer

$.$

Generally, the purpose of an indorsement on an instrument is to

select answer

$.$ The

checks deposited by Jacob

select answer

not indorsed by MPTC$.$ Therefore, Peoples

Bank

select answer

accepted the checks for deposit.