Question
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
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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