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Business Law 11th Edition by Kenneth Clarkson,Roger LeRoy Miller,Gaylord Jentz,Frank Cross
Edition 11ISBN: 978-0324655223Business Law 11th Edition by Kenneth Clarkson,Roger LeRoy Miller,Gaylord Jentz,Frank Cross
Edition 11ISBN: 978-0324655223 Exercise 1
Holder in Due Course Through negotiation, Emilio has received from dishonest payees two checks with the following histories:
(a) The drawer issued a check to the payee for $9. The payee cleverly altered the numeral amount on the check from $9 to $90 and the written word from "nine" to "ninety."
(b) The drawer issued a check to the payee without filling in the amount. The drawer authorized the payee to fill in the amount for no more than $90. The payee filled in the amount of $900.
Discuss whether Emilio, by giving value to the payees, can qualify as a holder in due course of these checks.
(a) The drawer issued a check to the payee for $9. The payee cleverly altered the numeral amount on the check from $9 to $90 and the written word from "nine" to "ninety."
(b) The drawer issued a check to the payee without filling in the amount. The drawer authorized the payee to fill in the amount for no more than $90. The payee filled in the amount of $900.
Discuss whether Emilio, by giving value to the payees, can qualify as a holder in due course of these checks.
Explanation
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a). Holder in Due Course - Amount Change...
Business Law 11th Edition by Kenneth Clarkson,Roger LeRoy Miller,Gaylord Jentz,Frank Cross
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