Business Law Case Study - Paycheck
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Mark and the Money
Mark, an employee of Blue Bonnet Factory, cashed his last paycheck at FastCash, Inc. Blue Bonnet issued a stop payment order on the check. The manager at Blue Bonnet Factory determined that Mark had not earned a check for his last week of work. Other employees claimed that they had punched the clock for Mark that week. The bank returned the check to FastCash, Inc. The markings on the check indicated that the bank would not issue funds for the check. FastCash, Inc. argued that it was entitled to payment. FastCash brought an action for payment against the bank.
Will FastCash, Inc. be successful?
Does Blue Bonnet's claim that Mark had not earned the funds influence the case in any way? Discuss why or why not.
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Solution Summary
Mark and the Money
Mark, an employee of Blue Bonnet Factory, cashed his last paycheck at FastCash, Inc. Blue Bonnet issued a stop payment order on the check. The manager at Blue Bonnet Factory determined that Mark had not earned a check for his last week of work. Other employees claimed that they had punched the clock for Mark that week. The bank returned the check to FastCash, Inc. The markings on the check indicated that the bank would not issue funds for the check. FastCash, Inc. argued that it was entitled to payment. FastCash brought an action for payment against the bank.
Will FastCash, Inc. be successful?
Does Blue Bonnet's claim that Mark had not earned the funds influence the case in any way? Discuss why or why not.
Solution Preview
One of the main issues in this case is that a payday loan is involved, which is also a center where people can cash checks on demand. These types of businesses have come under great scrutiny in recent years because they require a minimal amount of identification and then often can't collect on the checks. In this case, Mark ...
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