Question

Mr. Higgins operated a used car dealership in the state of Alabama. Higgins purchased a Chevrolet Corvette. He paid for the car with a draft on his account at the First State Bank of Albertville. Soon after, Higgins resold the car to Mr. Holsonback. To pay for the car, Holsonback signed a check that was printed on a standard sized envelope. The reason the check was printed on an envelope is that this practice made it easier to transfer title and other documents from the seller to the buyer. The envelope on which the check was written contained a certificate of title, a mileage statement, and a bill of sale. Does a check printed on an envelope meet the formal requirements to be classified as a negotiable instrument under the UCC? Holsonback v. First State Bank of Albertville, 394 So. 2d 381, 1980 Ala. Civ. App. Lexis 1208 (Court of Civil Appeals of Alabama)


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  • CreatedAugust 12, 2015
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