New Semester
Started
Get
50% OFF
Study Help!
--h --m --s
Claim Now
Question Answers
Textbooks
Find textbooks, questions and answers
Oops, something went wrong!
Change your search query and then try again
S
Books
FREE
Study Help
Expert Questions
Accounting
General Management
Mathematics
Finance
Organizational Behaviour
Law
Physics
Operating System
Management Leadership
Sociology
Programming
Marketing
Database
Computer Network
Economics
Textbooks Solutions
Accounting
Managerial Accounting
Management Leadership
Cost Accounting
Statistics
Business Law
Corporate Finance
Finance
Economics
Auditing
Tutors
Online Tutors
Find a Tutor
Hire a Tutor
Become a Tutor
AI Tutor
AI Study Planner
NEW
Sell Books
Search
Search
Sign In
Register
study help
business
essentials business law
Understanding Business And Personal Law, Student Edition (BROWN: UNDER BUS & PERS LAW) 1st Edition McGraw-Hill Education - Solutions
Role-play with a partner how the banker may respond to your letters. As the banker, make sure to address all the terms used in the letters.
Write a letter to a bank explaining recent problems you have had with a negotiable instrument.
What is secondary liability? What parties are secondarily liable on negotiable instruments?
What is the difference between a personal defense and a real defense? Provide an example of each.
Must Melanie pay back the bank for the amount of the check containing her forged indorsement?
What kind of liability would Julio have on the check that he indorsed over to David?
Would David win the case if he brought suit against Maria Reynolds for the amount of the check on which she stopped payment?
Was David a holder in due course of the check given to him by Julio in Chapter 25?
Respond Why do you think retail stores stamp checks for deposit only when they are received?
Question Must the indorsement be placed on the back of the instrument? Why or why not?
Connect Have you ever received a check from someone? If yes, how did you indorse it?
Predict What do you think Melanie should do now that she has lost three checks?
Locate information about identity theft, including how to protect yourself and what to do if you are a victim of this crime.
Special Indorsement Humberto Decorators, Inc., a general contracting firm, renovated the Restaurant Argentino Tango, Inc. for an agreed price of $27,415. When the work was completed, a check for the contract price was given to the restaurant by the Plaza National Bank as part of the proceeds of a
Restrictive Indorsement Holland Farms wrote a check payable to the order of La Sara Grain Company in the amount of$62,000. The check was indorsed by La Sara Grain Company “For deposit only” and taken to the bank by the company’s general manager, Harold Jones. The bank deposited $40,000 of the
Ted Wilmot, a landscaper, received a check for $350 from a client. Wilmot was in desperate need of money and planned to cash the check immediately. When he reached the drive-up window at his bank, Wilmot noticed that the check was made out to Theodore Wilmot. Ted’s given name was simply Ted. What
Jessica Patton unknowingly lost a blank check that she kept in her wallet for emergency situations. Abby Turner found the check in the restroom of a local mall and made the check out to herself for the sum of $500, forging Patton’s signature. Patton’s bank did not catch the forged signature and
Suppose, in problem 20, that Michael also indorses the check and cashes it at a bank.On what two legal grounds does the bank have recourse against him if the check does not clear?
Suppose the check Michael found in problem 19 was indorsed by Irene Lupi, with a special indorsement to Charles MacLean.Is Michael a holder? Why or why not?
Suppose the check Michael found in the previous case had been indorsed in blank by Irene Lupi. Would Michael be considered a holder? Why or why not?
Michael Reed finds a check payable to Irene Lupi on a downtown street. Is Michael a holder? Why or why not?
A check was payable to Quan and Jie Lee.Can the check be indorsed by either one of them to be negotiated? Why or why not?
What are some possible disadvantages of using a rubber stamp?
Is it legal to use a rubber stamp to indorse checks?
If Antonia uses the rubber stamp, are the checks considered indorsed?
Evaluate your group’s presentation. What did you do well? In what areas could you improve?
Compare notes with the other groups.
Use visual aids or presentation software to enhance your presentation.
Structure your presentation so that each group member has a chance to speak in front of the class.
Report your findings to the class.
Why should you only use blank indorsements in limited situations?
What contract does every indorser make if the indorsement does not state otherwise?
What type of indorsement is required when the name of the person to whom the check is made payable is misspelled?
Describe the standards for check indorsements.
Describe a situation wherein each of the four main types of indorsements would be used. Explain why each type of indorsement would be particularly appropriate for the situations you describe.
Explain why an order instrument must be indorsed, and why a bearer instrument need not be indorsed.
With a partner, review the definitions by using your new flash cards.
On the flash cards, draw pictures to represent each definition to help you remember the terms.
Imagine that you have just been hired to work as a bank teller and must learn a whole new vocabulary. Create a set of flash cards that define the legal terms listed above.
What two things are necessary to enforce the contract of indorsers?
List the five warranties of indorsers.
What are the legal effects of a forged instrument?
If an instrument is payable to both of two payees, as in the check that is payable to David and Melanie Mueller, who must indorse it?
What are the four main kinds of indorsements?
How is order paper negotiated?
How is bearer paper negotiated?
What is an assignment? How is it different from a negotiation?
Can anyone cash a check indorsed “Pay to the order of First Bank and Trust Company for deposit only”?
Do both David and Melanie have to indorse the check from the furniture company?
Does a special indorsement, such as “Pay to the order of Melanie Mueller,” prevent others from cashing a check?
Who can cash a check that is indorsed simply with the payee’s name?
Respond Do you have a debit card? What do you use it for?
Question Can you think of a situation that might require you to use a cashier’s check?
Connect Why do you think it is important to balance your checkbook?
Predict Why are checks considered to be a safe method for sending funds through the mail?
Postdated Check On September 14, David Siegel delivered to Peter Peters a check for $20,000, which was postdated for the following November 14.Peter immediately deposited the check in his own bank. David’s bank overlooked the date and deducted the money from Peter’s account early, on September
Raised Check Emmett McDonald, representing an estate, wrote a check to himself as follows: “Pay to the order of Emmett E. McDonald; Ten hundred seventy-five dollars; $10,075.00.” The bank paid McDonald $10,075, which was stated in figures on the check, and McDonald left town with the money. The
Paul Bianco’s wallet, which contained his ATM card, was stolen while he was at a baseball game. At the end of the game, Bianco telephoned his bank to inform it of the theft of his ATM card. In the meantime, the thief had figured out Paul’s PIN and had made a withdrawal of $500. Who is liable
Colby Sewell wrote a check for $47 to Federal Storage Facilities. Sewell wrote the check using a pencil because she was in a hurry and could not find a pen. When Sewell received her cancelled check and bank statement, she noticed that someone had altered her check by raising the amount to $550.
While attending college in Massachusetts, Mark Unger receives a check from his father, who lives in Wyoming. When Mark deposits the check in his checking account, the teller informs him that he cannot draw on it for 10 days. Is the teller correct? Why or why not?
Revisit the previous case. Would your answer be different if Rita, instead of Norma, had the check certified? Why or why not?
Rita Vicente writes a check for $400 payable to Norma Collins. When Norma receives the check, she has it certified by the bank on which it was drawn. She then gives the certified check to the Sawyer Appliance Company in payment for a television. Is Rita liable if the check is not paid? Why or why
Revisit the previous case. Does Harvey have a claim against his bank?
Nancy Watson receives a check from Harvey Balsam for $500. For no good reason, Harvey’s bank refuses to pay it.Can Nancy sue Harvey’s bank? Does she have a claim against Harvey? Why or why not?
What would you recommend John do now?
Can John sue the bank?
Who is liable for the loss?
Are there banking transactions that cannot be made through an ATM?
What transactions can be made at some of the machines?
Why should you choose an ATM PIN that is different from your street address, birthdate, or social security number?
Why is it important to balance your checkbook?
What is a stale check?
What type of instrument would you most likely use if you needed to send money to a foreign country? Why?
Why might a person stop payment on a check?
Why do many vacationers opt to use traveler’s checks instead of cash?
Which offers you more legal protection—a credit card or a debit card? Explain.
What is the difference between a certified check and a cashier’s check?
Why do most banks offer overdraft protection?
Who are the three parties to a check?
What happens when a bank refuses to pay a check and sufficient funds are on deposit?
Read your classmates’ comments and reflect on how you could improve your performance.
How soon must funds be made available to you when you deposit a local check in your bank? a nonlocal check?
Describe the five types of checks other than personal checks.
Summarize the process of balancing your checkbook.
Describe the proper way to write a check.
When a bank pays an altered check, who suffers the loss?
What are the possible legal consequences of writing a bad check?
Must a bank honor a check that is seven months old?
Respond Scott’s uncle signed a promissory note in the top left corner of the document.Is the note still negotiable? Why or why not?
Question Why do you think it is important that the maker sign a negotiable note?
Connect Why might CDs be a good investment for someone saving to go to college?
Predict How do you think Americans would transact business if there were no negotiable instruments?
Find out how digital signatures are used.
Discuss privacy issues that surround banking online.
Explain how to apply for a checking account.
Find out what services are offered online.
Promise to Pay Sandra McGuire signed the following note as part of a business transaction: “For value received, Thomas J. McGuire and Sandra A. McGuire, husband and wife, do promise to pay to the order of Pascal L. Tursi and Rebecca L. Tursi of 110 Curtis Lane, Moorestown, NJ, and of The Green
Borrowed Money In a suit against Dominic Loweth, Philip Fazio introduced into evidence the following written instrument, dated November 15: “This is to certify that I borrowed $15,000 from Philip N. Fazio on this day, to be returned within 10 days.” This was followed by what appeared to be the
Pierre gave his attorney a promissory note in exchange for legal services. The note read, “I promise to pay to the order of Charles E. Jones, in or within 60 days, the sum of five hundred French francs.” Is the instrument negotiable? Why or why not?
After agreeing to the terms of their contract, Judd gave Henry a signed note that read, “I promise to pay to the order of Henry Lloyd two hundred dollars when he completes the painting of my house.”Is this a negotiable instrument? Why or why not?
Showing 3100 - 3200
of 5013
First
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
Last
Step by Step Answers
Get 50% OFF
Claim Now
