Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 439 Weeks Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Business & Finance Posted 26 Apr 2017 My Price 3.00

Horne executed a $100,000 note in favor

Horne executed a $100,000 note in favor of R. C. Clark. On the back of the instrument was a restriction stating that the note could not be transferred, pledged, or otherwise assigned without Horne’s written consent. As part of the same transaction between Horne and Clark, Horne gave Clark a separate letter authorizing Clark to pledge the note as collateral for a loan of $50,000 that Clark intended to secure from First State Bank. Clark did secure the loan and pledged the note, which was accompanied by Horne’s letter authorizing Clark to use the note as collateral. First State contacted Horne and verified the agreement between Horne and Clark as to using the note as collateral. Clark defaulted on the loan. When First Bank later attempted to collect on the note, Horne refused to pay, arguing that the note was not negotiable as it could not be transferred without obtaining Horne’s written consent. This suit was instituted. Is the instrument negotiable? Explain.

 

Answers

Alpha Geek
(8)
Status NEW Posted 26 Apr 2017 03:04 PM My Price 3.00

-----------

Attachments

file 1493222179-Answer.docx preview (211 words )
H-----------orn-----------e e-----------xec-----------ute-----------d a----------- $1-----------00,-----------000----------- no-----------te -----------in -----------fav-----------or -----------of -----------R. -----------C. -----------Cla-----------rk.----------- On----------- th-----------e b-----------ack----------- of----------- th-----------e i-----------nst-----------rum-----------ent----------- wa-----------s a----------- re-----------str-----------ict-----------ion----------- st-----------ati-----------ng -----------tha-----------t t-----------he -----------not-----------e c-----------oul-----------d n-----------ot -----------be -----------tra-----------nsf-----------err-----------ed,----------- pl-----------edg-----------ed,----------- or----------- ot-----------her-----------wis-----------e a-----------ssi-----------gne-----------d w-----------ith-----------out----------- Ho-----------rne-----------’-----------s w-----------rit-----------ten----------- co-----------nse-----------nt.----------- As----------- pa-----------rt -----------of -----------the----------- sa-----------me -----------tra-----------nsa-----------cti-----------on -----------bet-----------wee-----------n H-----------orn-----------e a-----------nd -----------Cla-----------rk,----------- Ho-----------rne----------- ga-----------ve -----------Cla-----------rk -----------a s-----------epa-----------rat-----------e l-----------ett-----------er -----------aut-----------hor-----------izi-----------ng -----------Cla-----------rk -----------to -----------ple-----------dge----------- th-----------e n-----------ote----------- as----------- co-----------lla-----------ter-----------al -----------for----------- a -----------loa-----------n o-----------f $-----------50,-----------000----------- th-----------at -----------Cla-----------rk -----------int-----------end-----------ed -----------to -----------sec-----------ure----------- fr-----------om -----------Fir-----------st -----------Sta-----------te
Not Rated(0)