Question
Through negotiation, Emilio has received from dishonest payees two checks with the following histories: (a) The drawer issued a check to the payee for $9.
Through negotiation, Emilio has received from dishonest payees two checks with the following histories:
(a) The drawer issued a check to the payee for $9. The payee cleverly altered the numeral amount on the check from $9 to $90 and the written word from "nine" to "ninety."
(b) The drawer issued a check to the payee without filling in the amount. The drawer authorized the payee to fill in the amount for no more than $90. The payee filled in the amount of $900.
Discuss whether Emilio, by giving value to the payees, can qualify as a holder in due course of these checks. (S
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