Answer the following problem, briefly explaining your answer. Drawer issued a check for $100 payable to the
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Question:
Answer the following problem, briefly explaining your answer. Drawer issued a check for $100 payable to the order of Leslie Fay. Leslie indorsed the check "Leslie Fay," and she delievered it to Bella who paid $100 to Leslie. Bella transferred the check to Henry Baker without indorsing the check, and Henry paid Bella $100 for the check. Henry indorsed the check, "For Deposit Only, Henry Baker," and deposited the check in his account. 1. Was Leslie's indorsement a qualified or unqualified indorsement? 2. Did Leslie negotiate the check to Bella? 3. Did Bella negotiate the check to Henry? 4. Did Henry negotiate the check to his bank?
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