Kim is a HDC (holder in due course) of a check which was originally payable to the
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Question:
Kim is a HDC (holder in due course) of a check which was originally payable to the order of Dana Lung Cancer Recker. The check has the following indorsements on the back:
s/ Dana Lung Cancer Recker
Pay to the order of Chad
s/ Corey
without recourse
s/ Chad
s/ Mike
Kim now presents the check to the bank for payment and it is dishonored.
Upon dishonor of the instrument, Kim’s only remedy is to sue Mike?
Is the instrument bearer paper in Mike’s hands?
Was Recker’s signature necessary to negotiate the instrument?
Does Chad have warranty liability to Kim on the instrument?
Related Book For
Business Law and the Legal Environment
ISBN: 978-1111530600
6th Edition
Authors: Jeffrey F. Beatty, Susan S. Samuelson, Dean A. Bredeson
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