3.        MelaniaK. is in possession of a check signed and issued by Donald T. thatsays, “Pay to the order of Melania K. $5,000†and a note signed andissued by Donald T. that says, “I promise to pay to the order ofMelania K. $5,000,000.†What must Melania do to negotiate theseinstruments to her friend Tom and make Tom a holder?
4.        A checkis made payable to the order of Ima Student and has been signed“Ima Student†by Ima on the back. Ima delivers it to her friendMilly. Milly writes the words, “Pay to Milly Friend†above ImaStudent’s signature on the back. Milly then accidentally loses thecheck and Teacher finds it. Define the categories of indorsementsused on the back of the check and discuss whether there has been anegotiation to Teacher.
