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Author Question: A holder for value and in good faith with no knowledge of dishonor, defenses, or claims, or that ... (Read 174 times)

jparksx

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on: Jun 24, 2018
A holder for value and in good faith with no knowledge of dishonor, defenses, or claims, or that paper is overdue is known as a _____.
 A) holder in presentment
 B) holder in due course
 C) holder in good faith
 D)holder in liability

Question 2

Hal was a merchant who deposited 2,000 barrels of olive oil in a public warehouse operated by Welcome Warehouse. Hal was issued a warehouse receipt for the 2,000 barrels that by its terms was deliverable to bearer. Hal had engaged in many other transactions with Welcome and was in arrears for quite a bit of money to Welcome. Hal duly negotiated the warehouse receipt to Esmeralda Enterprises in payment of cash. Hal's financial affairs continued to deteriorate and Welcome never was paid the debt. When Esmeralda's agent requested the oil and offered to remit the warehouse receipt, Welcome refused to release the oil, claiming a lien on the oil for Hal's debt. Esmeralda sued. Decide the case.


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b614102004

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

B

Answer to Question 2

The holder of a negotiable warehouse receipt acquires the direct obligation of the issuer to deliver the goods according to the terms of the warehouse receipt. Esmeralda is unaffected by Hal's debt to Welcome.


jparksx

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

aliotak

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Reply 3 on: Yesterday
:D TYSM

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