Question
On January 2, 2008, Martin, seventeen years of age, as a result of Dealers fraudulent misrepresentation, bought a used motorboat to use in his fishing
On January 2, 2008, Martin, seventeen years of age, as a result of Dealers fraudulent misrepresentation, bought a used motorboat to use in his fishing business for $2,000 from Dealer, signed an installment contract for $1,500, and gave Dealer the following instrument as down payment: Dated: 2008 I promise to pay to the order of Dealer, six months after date, the sum of $500 without interest. This is given as a down payment on an installment contract for a motorboat. (signed) Martin Dealer, on July 1, sold his business to Henry and included this note in the transaction. Dealer indorsed the note in blank and handed it to Henry, who left the note in his office safe. On July 10, Sharpie, an employee of Henry, without authority stole the note and sold it to Bert for $300, indorsing the note Sharpie. At the time, in Berts presence, Sharpie filled in the date on the note as February 2, 2008. Bert demanded payment from Martin, who refused to pay. What are Berts rights against Martin using the UCC?
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