Questions from Business Law

Q: On December 2, 2021, Miles executed and delivered to Proctor

On December 2, 2021, Miles executed and delivered to Proctor a negotiable promissory note for $1,000, payable to Proctor or order, due March 2, 2022, with interest at 14 percent from maturity, in part...

Q: $900.00 Smalltown, Illinois Maker, November 15

$900.00 Smalltown, Illinois Maker, November 15, 2021 The undersigned promises to pay to the order of John Doe Nine Hundred Dollars with interest from date of note. Payment to be made in five monthly i...

Q: While employed as a night security guard at the place of business

While employed as a night security guard at the place of business of A. B. Cate Trucking Company, Fred Fain observed that the office safe had been left unlocked. It contained fifty payroll checks, whi...

Q: A negotiable promissory note executed and delivered by B to C passed

A negotiable promissory note executed and delivered by B to C passed in due course and was indorsed in blank by C, D, E, and F. G, the present holder, strikes out D’s indorsement. What is the liabilit...

Q: Pro Golf Manufacturing, Inc., manufactures and repairs golf equipment as

Pro Golf Manufacturing, Inc., manufactures and repairs golf equipment as well as gives golf lessons. On September 27, the Tribune Review newspaper published an article stating that several historic bu...

Q: On June 15, 2016, Justin, for consideration, executed

On June 15, 2016, Justin, for consideration, executed a negotiable promissory note for $10,000, payable to Renee on or before June 15, 2021. Justin subsequently suffered financial reverses. In January...

Q: Tate and Fitch were longtime friends. Tate was a man of

Tate and Fitch were longtime friends. Tate was a man of considerable means; Fitch had encountered financial difficulties. To bolster his failing business, Fitch desired to borrow $6,000 from Farmers B...

Q: Alpha orally appointed Omega as his agent to find and purchase for

Alpha orally appointed Omega as his agent to find and purchase for him a 1930 Dodge automobile in good condition, and Omega located such a car. Its owner, Roe, agreed to sell and deliver the car on Ja...

Q: In payment of the purchase price of a used motorboat that had

In payment of the purchase price of a used motorboat that had been fraudulently misrepresented, Young signed and delivered to Armstrong his negotiable note in the amount of $2,000 due October 1, with...

Q: On July 1, Anderson sold D’Aveni, a jeweler, a

On July 1, Anderson sold D’Aveni, a jeweler, a necklace containing imitation gems, which Anderson fraudulently represented to be diamonds. In payment for the necklace, D’Aveni executed and delivered t...