Could you please answer these three questions?
First question:
Under the UCC merchants are held to a higher standard than nonmerchants. Why does the Code do this? Is it fair to require a higher standard of merchants than of nonmerchants? Should additional protections be given to nonmerchants under the Code?
Second question:
From an ethical perspective, is it fair for a holder in due course to protect himself from personal defenses such as failure of consideration or fraud in the inducement? Why?
Third question:
Futurists like to talk about a future cashless, checkless society. What ethical issues are raised by a society that operates without cash or checks?