+1-415-670-9189
info@expertsmind.com
A.c. manufacturing company as payees
Course:- Management Theories
Reference No.:- EM131046003




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Management Theories

On July 21, Boehmer, a customer of Birmingham Trust, secured a loan from that bank for the principal sum of $5,500 to purchase a boat allegedly being built for him by A.C. Manufacturing Company, Inc. After Boehmer signed a promissory note, Birmingham Trust issued a cashier's check to Boehmer and A.C. Manufacturing Company as payees.

The check was given to Boehmer, who then forged A.C. Manufacturing Company's indorsement and deposited the check in his own account at Central Bank. Central Bank credited Boehmer's account and then placed the legend ‘‘P.I.G.,'' meaning ‘‘Prior Indorsements Guaranteed,'' on the check. The check was presented to and paid by Birmingham Trust on July 22. When the loan became delinquent in March of the following year, Birmingham Trust contacted A.C. Manufacturing Company to learn the location of the boat. They were informed that it had never been purchased, and they soon after learned that Boehmer had died on January 24 of that year. Can Birmingham Trust obtain reimbursement from Central Bank under Central's warranty of prior indorsements? Explain.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Management Theories) Materials
Respond in 4-5 content pages, not including title page, abstract, or references, to each question.  Again, each question is submitted individually with individual title pag
Identify the four basic forces driving small businesses to enter the global business arena. Which do you think is the most influential in the globalization of small firms?
This Assignment requires you to review the theoretical literature and the empirical evidence derived from research which is the basis for Universal Design for Learning, and th
Refer to the Real World Case on companies using smartphones in the chapter. Do you think smaller companies like Lloyd's Construction are ready for large-scale implementation
Leadership theory and development has been critical to many organisations. Facet of leadership in context is built on the tenets of people coming together to lead together in
Consider the following two scenarios for the economy and the returns in each scenario for the market portfolio, an aggressive stock A, and a defensive stock D. Rate of Retur
Describe the firms in the proposed merger. List their annual sales, and extent of their operations. From the firms' point of view, what are some of the incentives to consolida
Provide a brief description of the company that you have selected and the product or service that you are analyzing - Discuss what quality means for this product and  Explain