Question: Middle Georgia Livestock Sales bought cattle at an auction paying
Middle Georgia Livestock Sales bought cattle at an auction, paying by check. A couple of days later, Middle Georgia discovered that it had purchased stolen cattle and put through a stop- payment order on the check. Commercial Bank, however, cashed the check without knowledge of the stop- payment order. When the drawee bank refused payment, Commercial Bank sued the maker of the check. In this state, a transaction involving stolen goods is illegal and void. Can Commercial Bank collect from the maker?
Answer to relevant QuestionsThe Paddocks hired Harper Realty to sell their hotel. The Paddocks agreed that if Harper sold the hotel, they would pay Harper a commission of $ 15,000, with $ 3,000 down and the balance in monthly installments. The Paddocks ...Baron wrote a check for $ 250 payable to Tydings Automotive for car repairs. The check was written early in the day and processed by her bank and charged to Baron’s account that same day because Baron and Tydings were both ...A certified check for $ 16 payable to Sam Goody was altered (after it had been certified) to $ 1,600. The check was then used to pay for merchandise that had been ordered from Goody costing $ 1,600. The drawee bank refused ...Russ was hired by the Atrium Car Agency as a new- car salesperson on a commission basis. She was told by Atrium, her principal, that the sale of any new car must be approved by the owner of the agency. Russ did not follow ...McCoy and Gugelman formed a partnership to operate an antiques business. The partnership borrowed money from Security State Bank. One of the partners signed a promissory note to the bank on behalf of the partnership. When ...
Post your question