1. A negotiable instrument is a written document that promises or orders payment of money. 2. Essential elements: Must be a written instrument, signed by the maker or drawer, an unconditional promise or order, a fixed amount of money, payable to order or bearer, and payable on demand or at a definite time. 3. A promissory note is a promise to pay, and a draft is an order to pay. 4. A cashiers check is drawn by a bank, while a certified check is a personal check guaranteed by the bank. 5. NI following parties are: a. Maker: The person who promises to pay b. Drawer: The person who writes or orders the payment. c. Drawee: The person or bank ordered to pay. d. Payee: The person who receives the payment e. Holder: The person who possesses the instrument and has the right to payment. 6. The life cycle of a NI: Creation, issuance, transfer, presentment, acceptance, dishonor, and payment

So the stages the recipient is the holder at the stage of: Issuance

Lesson 8 are in the highlights. The Maker is on the Promissory not and not the Check.

Kerry, this particular CD does not indicate the Interest rate as you ask us to identify in the lesson so I am identifying the Terms in this lesson