Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. general management
  3. 1. a check drawn by cullen for $500 is made payabl

1. A check drawn by Cullen for $500 is made payable to the order of Jordan...

60.1K

Verified Solution

Question

General Management

1. A check drawn by Cullen for $500 is made payable to the orderof Jordan and issued to Jordan for goods Jordan sold to Cullen.Jordan owes his landlord $500 in rent and transfers the check tohis landlord with a special indorsement to the landlord. Determinewhether the landlord is a holder in due course. Be sure to give thelegal justification for your response.

1B. Determine whether the landlord in question #2 will beentitled to payment from Cullen if the following are true:

a. Cullen has been adjudged insane and only his guardian shouldbe making contracts for him.

b. Cullen is a minor and is trying to disaffirm thecontract.

Answer & Explanation Solved by verified expert
3.7 Ratings (564 Votes)
Landlord is a holder in due course The requirements for holder in due course are that the holder received the instrument for value in good faith and without notice that it is defective Here the landlord has    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

(62). (Transient Behavior of a Mixing tank): A tank initially holds 80 gal of a brine...

Advance Math
Q

External Anatomy A B C D EF F G LL F G H A I...

Biology
Q

end because it has a higher Tubulin addition happens preferentially at the affinity for tubulin...

Biology
Q

Solve the equation by factoring: 2w(3w + 1) = 3w + 1.Write your answers as...

Basic Math
Q

Find the missing factor, A.x (A) = -14x

Calculus
Q

The window is 20 inches tall at its highest point and 80 inches wide at...

Algebra
Q

John purchased 300 shares of IBM at $27 per share on 7/1/17. Answer each question...

Accounting
Q

Suppose that Ulta Corporation issued a one-year 10%$324000 note on April 30, 2025. Assuming that...

Accounting
Q

Compute the lower-of-cost-or-net realizable value valuation for Montana Company's total inventory based on the following

Accounting
Q

Suppose that one variable, I, is chosen randomly and uniformly from [0, 1], and another...

Accounting
Q

Question One (13 Points) Baha', Ahmad, and Sabri are partners in BAS Partnership...

Accounting
Q

Mad Mex just paid a dividend of $4.00. Next year they anticipate paying a dividend...

Finance