Book Opener

Step B: Procedure1. Form a team of three or four students, and create an imaginary namefor a bank.2. Use markers, poster board, and information in Chapter 23 to produceone of the following items:l A promissory note received by your bank from alocal business owner who wants to borrow$10,000llA certificate of deposit issued by your bankA cancelled check from a checking accountestablished at your bank3. Present your negotiable instrument to the class, andexplain why it qualifies as a negotiable instrument.4. Write and perform two role-playing skits involvinga holder in due course. Demonstrate situations inwhich a party tries to prevent payment. Use apersonal defense in one case and a real defense inthe other.Step C: Creating a Model to Compare DefensesCreate a chart that illustrates the different defenses used by your group.Explain the elements that make the defense personal or real. Use the followinglabels, and display your chart for the class.Step D: Workshop Analysis ReportReview the charts displayed by the class, and answer the followingquestions:1. Is there a common element among the explanations of personaldefenses? If so, what is it?2. Is there a common element among the explanations of real defenses?If so, what is it?3. Explain why a personal defense cannot be used against a holder indue course.Chapter 26: Collecting Negotiable Instruments 577