Questions from Business Law

Q: Reefpoint Brewhouse in Racine, Wisconsin, contracted with Forman Awnings and

Reefpoint Brewhouse in Racine, Wisconsin, contracted with Forman Awnings and Construction, LLC, for the fabrication and installation of an awning system over an outdoor seating area. After the system...

Q: Randal Schweiger bought a 2008 Kia Spectra EX from Kia Motors America

Randal Schweiger bought a 2008 Kia Spectra EX from Kia Motors America, Inc., for his stepdaughter, April Kirichkow. The cost was $17,231, plus sales tax and other charges, and Schweiger financed the e...

Q: Muriel Evans writes the following note on the back of an envelope

Muriel Evans writes the following note on the back of an envelope: “I, Muriel Evans, promise to pay Karen Marvin or bearer $100 on demand.” Is this a negotiable instrument? Discuss fully.

Q: Williams purchased a used car from Stein for $1,000

Williams purchased a used car from Stein for $1,000. Williams paid for the car with a check (written in pencil) payable to Stein for $1,000. Stein, through careful erasures and alterations, changed th...

Q: Abby Novel signed a handwritten note that read, “Glen Gallwitz

Abby Novel signed a handwritten note that read, “Glen Gallwitz 1-8-2002 loaned me $5,000 at 6 percent interest a total of $10,000.00.” The note did not state a time for repayment. Novel used the funds...

Q: Thomas Klutz obtained a franchise from Kahala Franchise Corp. to operate

Thomas Klutz obtained a franchise from Kahala Franchise Corp. to operate a Samurai Sam’s restaurant. Under their agreement, Klutz could transfer the franchise only if he obtained Kahala’s approval and...

Q: Sandra Ford signed a note and a mortgage on her home in

Sandra Ford signed a note and a mortgage on her home in Westwood, New Jersey, to borrow $403,750 from Argent Mortgage Co. Argent transferred the note and mortgage to Wells Fargo Bank, N.A., without in...

Q: Angela Brock borrowed $544,000 and signed a note payable

Angela Brock borrowed $544,000 and signed a note payable to Amerifund Mortgage Services, LLC, to buy a house in Silver Spring, Maryland. The note was indorsed in blank and transferred several times “w...

Q: Eligio Gaitan borrowed the funds to buy real property in Downers Grove

Eligio Gaitan borrowed the funds to buy real property in Downers Grove, Illinois, and signed a note payable to Encore Credit Corp. Encore indorsed the note in blank. Later, when Gaitan defaulted on th...

Q: Thao Thi Duong signed a note in the amount of $200

Thao Thi Duong signed a note in the amount of $200,000 in favor of Country Home Loans, Inc., to obtain a loan to buy a house in Marrero, Louisiana. The note was indorsed “PAY TO THE ORDER OF [blank sp...