Material Alteration. Williams purchased a used car from Stein for $1,000. Williams paid for the car with a check ( written in pencil ) payable to Stein for $1,000. Stein, through careful erasures and alterations, changed the amount on the check to read $10,000 and negotiated the check to Boz. Boz took the check for value, in good faith, and without notice of the alteration and thus met the Uniform Commercial Code's requirements for the status of a holder in due course. Explain, can Williams successfully raise the universal ( real ) defense of material alteration to avoid payment on the check? Payable on Demand or at a Definite Time. Abby Novel signed a handwritten note that read, " Glen Gallwitz 1 - 8 - 2002 loaned me $5,000 at 6 percent interest a total of $10,000. " The note did not state a time for repayment. Novel used the funds to manufacture and market a patented jewelry display design. More than seven years after Novel signed the note, Gallwitz filed a suit to recover the stated amount. Novel claimed that she did not have to pay because the note was not negotiable - it was incomplete. Explain, is she correct?