Question: Two smooth talking salesmen for Rich Plan of New Orleans called
Two smooth-talking salesmen for Rich Plan of New Orleans called on Leona and George Henne at their home. They sold the Hennes a home food plan. One of the salesmen suggested that the Hennes sign a blank promissory note. The Hennes refused. The salesman then wrote in ink "$100" as the amount and "4" as the number of installments in which the note was to be paid, and the Hennes signed the note. Several days later, the Hennes received a payment book from Nationwide Acceptance. The payment book showed that a total of $843.37 was due payable in 36 monthly installments. Rich Plan had erased the "$100" and "4" on the note and typed in the figures "$843.37" and "36." The erasures were cleverly done but were visible to the naked eye. Rich Plan then negotiated the Hennes' note to Nationwide Acceptance. The Hennes refused to pay the note. Nationwide claimed that it was a holder in due course and was entitled to receive payment. Was Nationwide Acceptance a holder in due course?
Answer to relevant QuestionsA representative of Gracious Living, Inc., called on the Hutchinsons and identified himself as a "demonstrator" of water-softening equipment. After explaining the cost of the equipment, he told the Hutchinsons that Gracious ...Mrs. Gordon Neely hired Louise Bradshaw as the bookkeeper for a Midas Muffler shop they owned and operated as a corporation, J. Gordon Neely Enterprises, Inc. (Neely). Bradshaw's duties included preparing company checks for ...John Doe had a checking account at Highland National Bank in New York. Two days after John Doe died in Florida, but before Highland National knew of his death, John's sister appeared at the bank. She had a check signed by ...When Perry Olsen died, his children placed his ranch in Vail, Colorado, for sale. Perry's children retained Vail Associates Real Estate, a real estate broker, to sell the land for them. Vail Associates introduced the ...Mark Bradshaw, an agent for National Foundation Life Insurance Co. (NFLIC), tried to sell a health insurance policy to Bobby Reed. Bradshaw told Reed that his health insurance coverage would begin upon signing some forms and ...
Post your question