QUESTION 1: Blair wanted to make a gift to his son Eric but did not have enough cash on hand. Instead, he gave Eric a $5,000 promissory note, payable in thirty days. Eric negotiated the note ten days later to his friend Tompkins. When Tompkins tried to collect on the note from Blair, Blair refused to pay, claiming that there was no consideration for the execution of the note. Is this a valid defense against payment to Tompkins? Also explain your answer. QUESTION 2: Jack, a Certified General Accountant, misappropriated $15,000 from a client. Describe three different types of legal proceedings to which Jack might be subject. QUESTION 3: Write a detailed note on Negotiable Instruments. QUESTION 4: The completed check below contains at least five errors. Study the check carefully: April 3219- 187 50-67 223 PAY TO Donald E. Swanson 25 Canterbury Lane Rochester, NY 14643 Glenwood Greenwot Pharmacy Eighty and First Federal Bank of Rochester Rochester, New York 14643 MEMO 40223-00174 601 423 B DOLLARS Dave Swanson List the five errors that appear in the check