James Packard, a lawyer representing Robert Marino, received a check for $16,000 in settlement of Robert's case. Instead of turning over the money to Robert or putting it into a trust fund for him, James forged Robert's indorsement and deposited the money into his own account without notifying Robert. Discuss the claims the parties have
Robert has a claim against the bank for paying a check with a forged indorsement. If the bank pays Robert, it can recover from James for violation of his presentment warranties. Robert could not sue James for violating either presentment or transfer warranties, because he did not present the check to Robert nor did he transfer the check to him. Robert does have a claim for conversion against James because James stole the check from him.
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An example of a contractual vertical marketing system is ________.
A. stocking B. franchising C. retailing D. wholesaling E. e-tailing
At the end of a brainstorming session, participants are often asked to
A. propose one more new idea each. B. vote on the best ideas. C. identify which ideas each person proposed. D. defer to management for the final decision. E. identify the worst ideas.
________ can be found where cost of receivables is equal to the revenues from increased sales
A) Accounts payable B) Accounts receivable C) Optimal amount of credit D) Cost of extending credit
Jane Wyman has a listing agreement to sell Dan and Darla Rogers' home. Jane has noticed several stains on the ceiling in three of the home's bedrooms. Dan and Darla assure Jane that their roof is just fine and that those stains can be painted over and occurred before their new roof was installed. Jane: A) Has done her duty by verifying with the sellers and has no further obligations of
investigation on the stains. B) Must investigate on her own to determine the source of the stains. C) Is not required to give her opinion to any buyers about the stains and is not liable for any nondisclosure about the stains. D) Must hire a contractor to paint the stains, and, if necessary, repair the roof.