Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Clint wrote a check to pay for his phone bill. The amount of the bill was $50. He wrote out the words Fifty dollars only
Clint wrote a check to pay for his phone bill. The amount of the bill was $50. He wrote out the words "Fifty dollars only" but he also wrote "$60" in the area for numbers. As a result, the check:
qualifies as a negotiable instrument, and the payee can collect $60.
is disqualified as a negotiable instrument.
qualifies as a negotiable instrument, and the payee can collect $50.
is disqualified as a negotiable instrument, unless Clint's intent is ascertained.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started