A check was drawn on First National Bank and made payable to Howard. It came into the possession of Carson, who forged Howard’s indorsement and cashed it at Merchant’s Bank. Merchant’s Bank then indorsed it and collected payment from First National. Assuming that Carson is nowhere to be found, who bears the loss caused by Carson’s forgery?
Answer to relevant QuestionsMrs. Gordon Neely hired Louise Bradshaw as the bookkeeper for a Midas Muffler shop they owned and operated as a corporation, J. Gordon Neely Enterprises, Inc. (Neely). Bradshaw's duties included preparing company checks for ...J. E. B. Steward received a check in the amount of $185.48 in payment of a fee from a client. Stewart presented the check, properly indorsed, to the Citizen's & Southern Bank. The bank refused to cash the check even though ...Circle C Investments operated two nightclubs featuring topless dancers. The secretary of labor sued to compel Circle C to comply with the minimum wage and maximum-hours provisions of the Fair Labor Standards Act, which ...Kamitra Smith was a catering specialist for TLC Catering, a food service business. TLC's catering specialists were authorized to make catering contracts with customers and to serve food in compliance with those contacts. On ...You and four of your closest friends have decided to start a business that will purchase from banks and other financial institutions high-risk, subprime mortgage loans that are in default. You believe that you will be able ...
Post your question