Q 1.Roy Rand executed and delivered the following note to Sue Sims: “Chicago, Illinois, June 1, 2017; I promise to pay to Sue Sims or bearer, on or before July 1, 2017, the sum of $7,000. This note is given in consideration of Sims’s transferring to the undersigned title to her 2009 Buick automobile. (signed) Roy Rand.” Rand and Sims agreed that delivery of the car be deferred to July 1, 2017. On June 15, Sims sold and delivered the note, without indorsement, to Karl Kaye for $6,200. What rights, if any, has Kaye acquired?2. Lavinia Lane received a check from Wilmore Enter- prises, Inc., drawn on the Citizens Bank of Erehwon, in the sum of $10,000. Mrs. Lane indorsed the check “Mrs. Lavinia Lane for deposit only, Account of Lavinia Lane” and placed it in a “Bank by Mail” envelope addressed to the First National Bank of Emanon, where she maintained a checking account. She then placed the envelope over a tier of mailboxes in her apartment building along with other letters to be picked up by the postal carrier the next day.