QUESTION 4 2 points An instrument payable to two or more persons in the alternative, such as a check "payable to the order of Elena or Ferrar," O a. requires the indorsement of both of the parties to be negotiated. O b. requires the indorsement of only of the parties to be negotiated. O c. is nonnegotiable. O d. must be converted to a bearer instrument to be negotiated. QUESTION 5 2 points Save Beth, an accountant for Credits & Debits, acquires a negotiable instrument from Ellen by promising to pay its face value in thirty days. Beth acquires the status of an HDC when she O a. pays the face value due on the instrument. O b. acquires possession of the negotiable instrument. O c. transfers the instrument to another party, O d. agrees with Ellen to buy the negotiable instrument. QUESTION 6 2 points Save An Resources Inc. receives a check from Steel Products Company and indorses it with a stamped imprint of its name on the back. This converts the check to O a. a bearer instrument. O b. an order instrument. O c. a special indorsement. O d. a non-transferable instrument