1.
Andrew forged the signature of Baumann on a
check and gave it to Callas in payment for merchandise. Callas indorsed
the check and delivered it to forgery was recognized. Callas claimed that
he was not liable to Davis
(Please contact us for explanation and solutions)
2. LeVoe wrote a
check for $1,200 to the order of Henry Smith and delivered it to Smith in
payment for a used car that Smith said had a rebuilt engine. Smith
indorsed the check and delivered it to Kraus, a holder in due course.
LeVoe stopped payment on the check when she discovered that the engine had not
been rebuilt. Must LeVoe pay the amount of the check to Kraus?
Explain.
(Please contact us for explanation and solutions)
3. A demand negotiable note for $500
issued by Sabin and given to Norm is altered to read $5,000 and subsequently
presented for payment for payment by Bridget, a holder in due course.
Under what circumstances, if any, may Sabin be required to pay $5,000 to
Bridget?
(Please contact us for explanation and solutions)
4. Ten year old
Felicity fell in love with a golden retriever puppy, which she saw in the
window of Pet World. She decided to use the money she had saved from her
paper route to buy the dog and wrote a $300 check, payable to Pet World.
Does Pet World qualify as a holder in due course? Why or Why not?
(Please contact us for explanation and solutions)
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