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M/D is a minor, bankruptcy, issuer declared judicially inconfident, instrument is void due to illegality, extreme duress, fraud in execution, unauthorized signature, material alteration
Negotiable instrument criteria
be in writing, be signed by M/D, be an unconditional promise/order to pay, payable in a fixed amount of money, payable on demand or at a fixed time, payable to order or bearer
Take in good faith, take for value, take without notice, in possession of a negotiable instrument, take through negotiation
entitled to enforce the instrument, all signatures are authentic and authorized, no material alterations, warranty against offense, warranty against insolvency proceedings,