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Cengage Advantage Books: Fundamentals of Business Law 9th Edition by Roger LeRoy Miller
Edition 9ISBN: 978-1111530624Cengage Advantage Books: Fundamentals of Business Law 9th Edition by Roger LeRoy Miller
Edition 9ISBN: 978-1111530624 Exercise 12
ISSUE SPOTTERS
Roni writes a check for $700 to Sela. Sela indorses the check in blank and transfers it to Titus, who alters the check to read $7,000 and presents it to Union Bank, the drawee, for payment. The bank cashes it. Roni discovers the alteration and sues the bank. How much, if anything, can Roni recover? From whom can the bank recover this amount? (See pages 419-420.)
Roni writes a check for $700 to Sela. Sela indorses the check in blank and transfers it to Titus, who alters the check to read $7,000 and presents it to Union Bank, the drawee, for payment. The bank cashes it. Roni discovers the alteration and sues the bank. How much, if anything, can Roni recover? From whom can the bank recover this amount? (See pages 419-420.)
Explanation
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Mr R can recover $6,300 from the bank be...
Cengage Advantage Books: Fundamentals of Business Law 9th Edition by Roger LeRoy Miller
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