Roy signs corporate checks for Standard Corporation. Roy makes a check payable to U-All Company, to whom
Question:
Roy signs corporate checks for Standard Corporation. Roy makes a check payable to U-All Company, to whom Standard owes no money. Roy signs the check, forges U-All’s indorsement, and cashes the check at First State Bank, the drawee. Does Standard have any recourse against the bank for the payment? Explain your answer.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (11 reviews)
No When a drawers employee provides the drawer with ...View the full answer
Answered By
Rayan Gilbert
I have been teaching since I started my graduation 3 years ago. As a student, working as Teacher/PA has been tough but made me learn the needs for student and how to help them resolve their problems efficiently. I feel good to be able to help out students because I'm passionate about teaching. My motto for teaching is to convey the knowledge I have to students in a way that makes them understand it without breaking a sweat.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Business Law Text and Exercises
ISBN: 978-1305509603
8th edition
Authors: Roger LeRoy Miller, William E. Hollowell
Question Posted:
Students also viewed these Business questions
-
Rye signs corporate checks for Suchin Corporation. Rye writes a check payable to U-All Company, to which Suchin owes no money. Rye signs the check, forges U-Alls indorsement, and cashes the check at...
-
1. What is different about this situation and the fictitious payee exception? 2. Evaluate this statement, UCC Article 3 does not provide protection for checks written to bad fund managers. Is it true...
-
Holmes Corporation is a leading designer and manufacturer of material handling and processing equipment for heavy industry in the United States and abroad. Its sales have more than doubled, and its...
-
Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations: Materials purchased on...
-
A submarine of mass 2.5 106 kg and initially at rest fires a torpedo of mass 250 kg. The torpedo has an initial speed of 100.0 m/s. What is the initial recoil speed of the submarine? Neglect the...
-
Solve each problem. x + 47 and x + 5 3
-
Fun-Tastic Shows, Inc., is a company that hosts carnivals and similar events. Susan Swartwood, Crystal Groth, and a minor (named in the case as M.G.S.) attended Fun-Tastics Rhododendron Festival in...
-
Account analysis Java Joe Coffees wants to find an equation to estimate monthly utility costs. Java Joes has been in business for one year and has collected the following cost data for utilities:...
-
Write the relational model for the following ER diagram: Entity Relationship Diagram - Internet Sales Model = One Entity Action Attributo Zero or more, Optional = Many Company Name Shipping Ships...
-
Camping Supply Company has developed a new camping lamp that runs on solar power. The solar cells charge in the sun all day and then the lamp is ready to run when the sun goes down. The company has a...
-
Adam issues a $500 note to Bill due six months from the date issued. One month later, Bill negotiates the note to Carol for $250 in cash and a check for $250. To what extent is Carol a holder in due...
-
Fox purchased a used car from Emerson for $1,000. Fox paid for the car with a check, written in pencil, payable to Emerson for $1,000. Emerson, through careful erasure and alterations, changed the...
-
Solve each problem. College Enrollments The graph shows the projections in total enrollment at degree granting institutions from fall 2014 to fall 2021. The following linear model provides the...
-
We want to derive efficient algorithm for solving optimization problem where the objective is a sum of a L-smooth function f and a non-smooth function . min f(x) + (x). xR9 As seen in the lectures, a...
-
1. What environmental issues does the New Belgium Brewing Company work to address? How has New Belgium Brewery taken a strategic approach to addressing these issues? 2. Explain some of factors that...
-
The Federal Reserve has set the discount rate at 1%. It pays 0% on Reserves. The current Federal Funds Rate is .5%. Show above what happens when the Fed uses open market operations to decrease the...
-
Consider an arbitrary marriage problem in which agents on one side, say women, have the same preference ordering of the men. Find a stable matching. Is it a unique stable matching? If so, prove its...
-
Discuss and graphically illustrate.Why is there a difference between the maximum sustained yield and the economically efficient sustained yield?
-
Locate the court case Byrne v. U.S., 127 Fed. Cl. 284 (2016). Using only the head notes, answer the following questions: a. What issue(s) did the court address? b. What was the ruling of the court?
-
Independent random samples of sizes n1 = 30 and n2 = 50 are taken from two normal populations having the means 1 = 78 and 2 = 75 and the variances 21 = 150 and 22 = 200. Use the results of Exercise...
-
After the entry of a judgment, who can appeal? a. Only the winning party. b. Only the losing party. c. Either the winning party or the losing party. d. None of the above.
-
Dinh and Bill are involved in an automobile accident. Sue is a passenger in Bills car. Dinhs attorney wants to ask Sue, as a witness, some questions concerning the accident. Sues answers to the...
-
The purposes of discovery include a. saving time. b. narrowing the issues. c. preventing surprises at trial. d. all of the above.
-
Use the statement from the Federal Reserve's May 3, 2023, FOMC meeting to answer the following questions. Here is a link to the statement:...
-
As a medium of exchange, how does the Invention of Money facilitate Exchange, division of labor, specialization, and productivity? Your answers need to be academic. Please explain, step-by-step, how...
-
Critically analyse the impact of China's trade surplus on global trade and determine the implications of this for countries such as South Africa.
Study smarter with the SolutionInn App