Question
Creating Negotiable Instruments and Liability for Negotiable Instruments Jennifer receives a $10,000 check that is not payable to any specific person. She earned the funds
Creating Negotiable Instruments and Liability for Negotiable Instruments Jennifer receives a $10,000 check that is not payable to any specific person. She earned the funds from a successful appearance on a game show. She wants to give her earnings to her little brother, Zeke, as a gift for graduating from college. She transfers the check to Zeke.
1. Does Zeke have title to the funds? Why? 2. Does Zeke qualify as a holder in due course? Why? 3. Does it make a difference whether the check is order paper or bearer paper? Why? 4. What if, after Zeke receives the check, Damien steals it. What are Damien's rights?
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