Question

Reggie Bluiett worked at the Silver Slipper Gambling Hall and Saloon. She received her weekly paycheck made out to her from the Silver Slipper. She indorsed the check in blank and left it on her dresser at home. Fred Watkins broke into Bluiett's house and stole the check. Watkins took the check to the local auto store, where he bought two tires at a cost of $71.21. He obtained the balance of the check in cash. Could the auto store qualify as a holder in due course? 5. Horton wrote a check for $20,000 to Axe, who in turn indorsed it to Halbert. In return, Halbert advanced $8,000 in cash to Axe and promised to cancel a $12,000 debt owed him by Axe. The check, when presented by Halbert to the bank, was not paid due to insufficient funds. Halbert thus never regarded the debt as canceled. To what extent can Halbert be a holder in due course of the check?



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  • CreatedJuly 16, 2014
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