Book Opener

In each case that follows, you be the judge.27. Borrowed MoneyIn a suit against Dominic Loweth, Philip Fazio introduced into evidence the following writteninstrument, dated November 15: “This is to certify that I borrowed $15,000 from Philip N. Fazioon this day, to be returned within 10 days.” This was followed by what appeared to be thesignature of Loweth. Fazio claimed that the instrument was negotiable. Do you agree? Whyor why not?Fazio v. Loweth, 490 N.Y.S.2d 859 (NY).28. Promise to PaySandra McGuire signed the following note as part of a business transaction: “For valuereceived, Thomas J. McGuire and Sandra A. McGuire, husband and wife, do promise to payto the order of Pascal L. Tursi and Rebecca L. Tursi of 110 Curtis Lane, Moorestown, NJ, andof The Green Mountain Inn, Stowe, VT, the sum of sixty-five thousand dollars ($65,000).” Isthe note a negotiable instrument? Why or why not?P.P. Inc. v. McGuire, 509 F.Supp. 1079 (NJ).Bert has heard of banking online, but he doesn’treally understand how it works. How is moneydeposited? Can you write checks electronically? Isit safe? Bert has asked you to help him find moreinformation.ConnectUsing a variety of search engines:29. Research online banking.30. Find out what services are offered online.31. Explain how to apply for a checking account.32. Discuss privacy issues that surround bankingonline.33. Find out how digital signatures are used.34. Predict How do you think Americanswould transact business if there were nonegotiable instruments?35. Connect Why might CDs be a goodinvestment for someone saving to goto college?36. Question Why do you think it is importantthat the maker sign a negotiable note?37. Respond Scott’s uncle signed a promissorynote in the top left corner of the document.Is the note still negotiable? Why orwhy not?Chapter 23: Negotiable Instruments 519