Questions from Business Law

Q: Bertram writes a check for $200 payable to “cash.”

Bertram writes a check for $200 payable to “cash.” He puts the check in his pocket and drives to the bank to cash the check. As he gets out of his car in the bank’s parking lot, the check slips out of...

Q: A check drawn by Cullen for $500 is made payable to

A check drawn by Cullen for $500 is made payable to the order of Jordan and issued to Jordan. Jordan owes his landlord $500 in rent and transfers the check to his landlord with the following endorseme...

Q: Waldo makes out a negotiable promissory note payable to the order of

Waldo makes out a negotiable promissory note payable to the order of Grace. Grace indorses the note by writing on it “Without recourse, Grace” and transfers the note for value to Adam. Adam, in need o...

Q: Niles sold Kennedy a small motorboat for $1,500,

Niles sold Kennedy a small motorboat for $1,500, telling Kennedy that the boat was in excellent condition. Kennedy gave Niles a check for $1,500, which Niles indorsed and gave to Frazier for value. Wh...

Q: Kanahara is employed part-time by the CrossBar Packing Corp.

Kanahara is employed part-time by the CrossBar Packing Corp. and earns take-home pay of $400 per week. He is $2,000 in debt to the Holiday Department Store for goods purchased on credit over the past...

Q: Nabil is the owner of a relatively old home valued at $

Nabil is the owner of a relatively old home valued at $105,000. The home’s electrical system is failing, and the wiring needs to be replaced. Nabil contracts with Kandhari Electrical to replace the el...

Q: Peter hires Alice as an agent to sell a piece of property

Peter hires Alice as an agent to sell a piece of property he owns. The price is to be at least $30,000. Alice discovers that the fair market value of Peter’s property is actually at least $45,000 and...

Q: Nero needs $500 to buy textbooks and other supplies. Olivia

Nero needs $500 to buy textbooks and other supplies. Olivia agrees to loan Nero $500, accepting Nero’s computer as collateral. They put their agreement in writing. How can Olivia let other creditors k...

Q: Edward owned a retail sporting goods shop. A new ski resort

Edward owned a retail sporting goods shop. A new ski resort was being constructed in his area, and to take advantage of the potential business, Edward decided to expand his operations. He borrowed a l...

Q: Adam’s checks are imprinted with the words “Pay to the order

Adam’s checks are imprinted with the words “Pay to the order of” followed by a blank. Adam fills in an amount on one of the checks and signs it, but he does not write anything in the blank following t...