Explains the fundamentals of negotiable instrumentspromissory notes, drafts, checks, and certificates of deposit. Provides an overview of Article 3s requisites of negotiability. Reviews contract liability, secondary liability conditions, and discharge liability. Covers instruments of property, including enforcement, transfer, and negotiation. Discusses warranty, restitution, claims, defenses to instruments, holder in due course, and check collection process. Examines the customer/payor bank relationship and risk allocation.