Question: 29. Sid Slick represents himself as Richard Rich to Ortie Ozarka. Ortie, believing that Sid was really Richard, gave Sid a check payable to Richard's
29. Sid Slick represents himself as Richard Rich to Ortie Ozarka. Ortie, believing that Sid was really Richard, gave Sid a check payable to Richard's order. Sid endorses the instrument "pay to Art Arbuckle" and gave it to Art. Art gives it to Harry. Is Harry a proper holder of the instrument?
30. Bill Buyer executes a $1,000 promissory note and delivers it to Sam Seller to pay for certain widgets that he bought for his inventory. Sam properly negotiates the note to First National Bank for $500. They have no knowledge of any problems. After delivery, Bill finds the widgets are defective. He refuses to pay the note. Can he do so? Explain.
PLEASE ANSWER BOTH AND BE ORIGONAL IM LOSING POINTS ALREADY I REALLY NEED THIS.
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