John gives a check to Sally to 1,000 kilograms of maple syrup for John. The...
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John gives a check to Sally to 1,000 kilograms of maple syrup for John. The price of the syrup is constantly fluctuating. Sally asks John to leave the amount of the check blank and allow her to fill in the price when making the purchase. John agrees. Sally buys the syrup when the price is $2,000, but fills in the check for $3,000. Sally has a pre-existing debt to Vermont Maple for $1000. The check is negotiated as payment for a $3,000 debt to Vermont Maple Syrup, Inc. which takes the check in good faith and without notice of Sallys act. Vermont Maple later learns that Sally was not authorized to fill in the check for $1,000 over the price. Is Vermont Maple an HDC? If so, for how much?
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