Rights and Entitlement
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Please help by Discuss those 2 questions below. 80 words minimum
Q1: Dan issues a check for $100. Eve steals it and alters the amount to $1,000. She negotiates the check to Fred, who takes it in good faith, for value, and without notice of the alteration. Dan refuses to pay more than $100 on the check. Is Fred entitled to more from Dan?
Q2: Melvin executed and delivered to Dawkins a negotiable promissory note payable to the order of Dawkins as payment for 100 bushels of wheat Dawkins had sold to Melvin. Dawkins indorsed the note "Pay to Hersey only, (signed) Dawkins" and sold it to Hersey. Hersey then sold the note to Smith after indorsing it "Pay to Smith, (signed) Hersey." What rights, if any, does Smith acquire in the instrument?
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Solution Summary
This solution discusses the case of Dan and his check for $100 and also discusses the case of Melvin and Smith's rights.
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1- Dan issued the check for $100 to an unnamed party. Before the check reached its destination, Eve steals the check and changes the amount to $1,000. At this immediate point, Dan is not responsible for the $1,000 that Eve altered the check to, when she stole it. She then gives the check to Fred, knowing it is fraudulent. She does so in ...
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