Reference no: EM131389157
Adams, who reads with difficulty, arranged to borrow $2,000 from Bell. Bell prepared a note, which Adams read laboriously. As Adams was about to sign it, Bell diverted Adams's attention and substituted the following paper, which was identical to the note Adams had read except that the amounts were different:
On June 1, 2010, I promise to pay Ben Bell or order Twelve Thousand Dollars with interest from date at 16 percent. This note is secured by certificate No. 13 for 100 shares of stock of Brookside Mills, Inc. Adams did not detect the substitution, signed as maker, handed the note and stock certificate to Bell, and received from Bell $2,000.
Bell indorsed and sold the paper to Fore, a holder in due course, who paid him $11,000. Fore presented the note at maturity to Adams, who refused to pay. What are Fore's rights, if any, against Adams?
|
Is pennek subject to given defense
: Pennek Motor Company now brings an action on the check that was not paid against Daye, who defends on the ground of failure of consideration. Is Pennek subject to this defense? Explain.
|
|
Middle-management implements the goals and objectives
: Topic 1: Successful execution depends heavily on how well middle-management implements the goals and objectives chosen by top-management to support the new vision for the company. How can top-managers assure that middle and low-level managers are..
|
|
What is the complexity of your algorithm as a function of n
: You have to play fair: the algorithm must make progress and eventually terminate, and the implementation must not cheat with tricks like timewasting loops. What is the complexity of your algorithm as a function of n?
|
|
Which case do you believe his the most important
: John Marshall is considered the most influential Chief Justice in the history of the United States. Which case do you believe his the most important and why? Do you agree with the expansion of the size and scope of the power of the national govern..
|
|
What are fores rights if any against adams
: Bell indorsed and sold the paper to Fore, a holder in due course, who paid him $11,000. Fore presented the note at maturity to Adams, who refused to pay. What are Fore's rights, if any, against Adams?
|
|
Market based on psychographic characteristics
: VALs (Values and LifeStyles) Survey is a commonly used tools for marketers to segment their market based on Psychographic characteristics. But how valid is the VALs categorization schema? What is your VALs type? How can this tool be used by com..
|
|
Examine your projects greatest challenge
: Estimate the project's overall cost and any key staffing and non-staffing resources needed. Examine your project's greatest challenge and provide a recommendation for addressing the challenge in question.
|
|
Discuss the merits and risks of kgc ltd
: HI6025 Accounting Theory and Current Issue Assignment. Should KGC Ltd. revalue its major PPE assets from historic cost to fair-market value? (Discuss the principles, potential issues, and risks). Discuss the merits and risks of KGC Ltd. including a..
|
|
What are berts rights against martin
: At the time, in Bert's presence, Sharpie filled in the date on the note as February 2, 2010. Bert demanded payment from Martin, who refused to pay. What are Bert's rights against Martin?
|