This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Cecilia made a check out to Gideon for 15. Gideon fraudulently changed the check to read 150, and ... (Read 110 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
on: Jun 24, 2018
Cecilia made a check out to Gideon for 15. Gideon fraudulently changed the check to read 150, and cashed it at Corner Bank. Is Cecilia discharged from liability on the check?
 A)Yes, Cecilia owes nothing on the check because alteration of a check is a real defense and real defenses are good even against holders in due course.
 B)No, Cecilia pays 150 because of the impostor rule.
 C)No, Cecilia pays 150 because she in not an indorser or accommodation party.
 D)Yes, Cecilia owes nothing unless Corner Bank is a holder in due course in which case she owes the original 15.

Question 2

The title of the goods sold in a documentary sale is transferred through:
 A) negotiation of the document only.
 B) delivery of the goods only.
 C) negotiation of the document and delivery of the goods.
 D) title to the goods is not transferred in a documentary sale.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

GCabra

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

A


penza

  • Member
  • Posts: 1,022
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

softEldritch

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

A hair is an array of many α-keratin filaments, made up of the substructures A hair is an array of many α-keratin filaments, made up of the substructures
Glowing Base Of Tree Made By Arranging Leaves Glowing Base Of Tree Made By Arranging Leaves
Checking gasoline for alcohol involves using a graduated cylinder and adding water to check if the ... Checking gasoline for alcohol involves using a graduated cylinder and adding water to check if the ...
A simple and easy-to-use tester can be made from a lighter plug and double banana plug that fits ... A simple and easy-to-use tester can be made from a lighter plug and double banana plug that fits ...
Using a scan tool to check for IAC counts or percentage as part of a diagnostic routine. Using a scan tool to check for IAC counts or percentage as part of a diagnostic routine.
What is the current in Figure 16-1(b) if the diode is made of silicon and the polarity of the ... What is the current in Figure 16-1(b) if the diode is made of silicon and the polarity of the ...
Video: Introduction to Sickle Cell Anemia

For a complete list of videos, visit our video library