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Author Question: Matt wrote a 500 check to Alistar for some yard work that Alistar had done. What will Alistar have ... (Read 29 times)

s.tung

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on: Jun 24, 2018
Matt wrote a 500 check to Alistar for some yard work that Alistar had done. What will Alistar have to do negotiate this instrument to Totally Tough, Inc in payment for some yard equipment Alistar had bought?

Question 2

A good faith purchaser is one who purchases a document of title:
 A) for value, in good faith, in the ordinary course of business.
 B) for value, in good faith, directly from the seller.
 C) in good faith and by endorsement from the seller's bank.
 D) with understanding that the seller had acted in good faith in selling the goods.


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leannegxo

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A check is order paper. To negotiate order paper, the instrument must be indorsed and then delivered to the transferee. Thus, Alistar needs to sign the check on the back and give it to Totally Tough.

Answer to Question 2

A


s.tung

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Reply #2 on: Jun 24, 2018
Correct answers!


leannegxo

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Reply #3 on: Jun 24, 2018
Great! Please up vote :D


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