Niles sold Kennedy a small motorboat for $1,500, maintaining to Kennedy that the boat was in excellent
Question:
Niles sold Kennedy a small motorboat for $1,500, maintaining to Kennedy that the boat was in excellent condition. Kennedy gave Niles a check for $1,500, which Niles indorsed and gave to Frazier for value. When Kennedy took the boat for a trial run, she discovered that the boat leaked, needed to be painted, and required a new motor. Kennedy stopped payment on her check, which had not yet been cashed. Niles has disappeared. Can Frazier recover from Kennedy as a holder in due course? Discuss.
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Frazier can recover the 1500 from Kennedy if he is a holder in due cour...View the full answer
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