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Callum is the President of Perrywinkle Fabrics, Inc. He gives a check to the company s bookkeeper, Ginger, to pay for a shipment of wool

Callum is the President of Perrywinkle Fabrics, Inc. He gives a check to the companys bookkeeper, Ginger, to pay for a shipment of wool fabric from the ORiley Sheep farm. The bulk price of the wool fabric, though, is changing. Thus, Callum open the amount of the check. Callum signs the check and instructs Ginger to complete the amount when she picks up the trees. Ginger purchases the fabric when the price is $45/yard. The total amount of the purchase from ORiley is $15,200. But Ginger privately owes Mr. ORiley a debt of $240 for his work in spinning wool from Gingers sheep. Ginger then adds to the check her debt and she transfers the company check for $15,440 to ORiley farms. Mr. ORiley takes the check in good faith and without notice of Gingers limitations by Callum. Later, after payment of the check by Perrywinkles bank, Callum complains that Ginger was not authorized over the price. (1) Is Mr. ORiley d/b/a ORiley Farms an HDC? If so, for how much? To help you answer, please apply each question below to Mr. ORileys case as you answer whether Mr. ORiley d/b/a ORiley Farms is an HDC. Did O'Riley take the instrument: (A) For Value? Explain. Please quote each relevent section(s) from the textbook to support your answer and list the page numbers. In other words, no points if you do not quote verbatim the textbook and list the page numbers. (B) In Good Faith? Please quote each relevent section(s) from the textbook to support your answer and list the page numbers. In other words, no points if you do not quote verbatim the textbook and list the page numbers. (C) Without Notice that it is overdue, dishonored, or encumbered in any way? Explain Please quote each relevent section(s) from the textbook to support your answer and list the page numbers. In other words, no points if you do not quote verbatim the textbook and list the page numbers. (D) Bearing no apparent evidence of forgery, alterations, or irregularity? Explain Please quote each relevent section(s) from the textbook to support your answer and list the page numbers. In other words, no points if you do not quote verbatim the textbook and list the page numbers. (2) If Mr. ORiley is an HDC, for what value? That is, for what amount is Mr. ORiley an HDC?(Hint: Review the definition of value) Please quote each relevent section(s) from the textbook to support your answer and list the page numbers. In other words, no points if you do not quote verbatim the textbook and list the page number. Cheeseman 10th edition bussiness law

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