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Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson
Edition 19ISBN: 978-1305654921Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson
Edition 19ISBN: 978-1305654921 Exercise 5
Ronnie Gilley Properties, LLC (Gilley), wrote a check to Cile Way Properties, LLC (Cile), for $100,000. When Cile deposited the check in its bank, it was misencoded in the amount of $1,000. As a result, only $1,000 was credited to Cile's account and debited from Gilley's account. Was the obligation discharged?
Explanation
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Encoding error:
When information from o...
Cengage Advantage Books: Law for Business 19th Edition by John Ashcroft,Katherine Ashcroft,Martha Patterson
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