Is lamson a holder, The Corporation contends that Lamson

Is lamson a holder

Assignment Help Management Theories

Reference no: EM131386851

The drawer, Commercial Credit Corporation (Corporation), issued two checks payable to Rauch Motor Company. Rauch indorsed the checks in blank, deposited them to its account in University National Bank, and received a corresponding amount of money. The Bank stamped ‘‘pay any bank'' on the checks and initiated collection.

However, the checks were dishonored and returned to the Bank with the notation ‘‘payment stopped.'' Rauch, through subsequent deposits, repaid the bank.

Later, to compromise a lawsuit, the Bank executed a special two-page indorsement of the two checks to Lamson. Lamson then sued the Corporation for the face value of the checks, plus interest.

The Corporation contends that Lamson was not a holder of the checks because the indorsement was not in conformity with the Uniform Commercial Code in that it was stapled to the checks. Is Lamson a holder? Why?

Reference no: EM131386851

Questions Cloud

Is coles signature effective against machine mfg : In midJune, Machine Mfg., Inc., learned of Cole's fraudulent conduct, fired her, and brought an appropriate action against Capital Bank, seeking a judgment for $3,200. Is Cole's signature effective against Machine Mfg., Inc.? Explain.

Discuss four sequential steps for effective active listening : Explain the primary types of questions and how they are applied in selling. Identify and describe the five steps of the ADAPT questioning sequence for effective fact-finding and needs discovery. Discuss the four sequential steps for e..

Explain is the indorsement effective : Title Company then sued the drawee bank (Fidelity) to recover the amount of the check, $15,640.82. Is the indorsement effective? Explain.

Discuss eastern religion and contemporary ethics : What are common characteristics your chosen religion shares with the others? What has changed about the roles of women in the religion over time? Discuss eastern religion and contemporary ethics.

Is lamson a holder : The Corporation contends that Lamson was not a holder of the checks because the indorsement was not in conformity with the Uniform Commercial Code in that it was stapled to the checks. Is Lamson a holder? Why?

Cybersecurity at the global level : Not only must asymmetric advantages be countered domestically, attackers often originate from outside the United States. Given that situation, describe how the Westphalian model would aid cybersecurity at the global level.

What is the capacitive reactance of the capacitor : Assume that a 500 pF capacitor is connected in a circuit with a frequency of 100 kHz. What is the capacitive reactance of the capacitor?

Read the article and give your reviews : According to the article "Emotional Intelligence and Effective Leadership", one of the most important constructs in leadership today is the concept and application of emotional intelligence (EI) (Batool, 2013). Imagine that you are an internal con..

Develop care plan describe how you would approach situation : Integrate your strategies as you develop a care plan describing how you would approach the situation and care for the patient. Review the "Care Plan" template prior to beginning.

User Account

All Pages