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Levels Tought:
Elementary,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 363 Weeks Ago, 3 Days Ago |
| Questions Answered: | 20103 |
| Tutorials Posted: | 20155 |
MBA, PHD
Phoniex
Jul-2007 - Jun-2012
Corportae Manager
ChevronTexaco Corporation
Feb-2009 - Nov-2016
Eppie gave a check to Fund Investments to buy 100 shares of stock in GR8 Tech Corporation for Eppie. Because the price of the shares constantly fluctuates, Fund Investments asked Eppie to leave the amount of the check blank and allow it to fill in the price when it actually made the purchase of the stock shares. Eppie agreed to this request. When Fund Investments finally purchased the stock shares for Eppie, the purchase price was $4,000, but the Fund Investments employee who conducted the transaction filled in $5,000 as the purchase price - $1,000 more than the actual cost of the stock shares. The check was then negotiated as payment for a $5,000 debt to Hasty Accounting Services, which took the check in good faith and without notice of Fund Investments’ actions. A few weeks later, Hasty learned that Fund Investments was not authorized to fill in the check for $5,000. Is Hasty a holder in due course (HDC)? Why or why not? If so, for how much? Discuss and explain you answer in detail!
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