Negotiable Instruments: Before beginning work on this week’s discussion forum, please review the link “Doing Discussion Questions Right,” the expanded grading rubric for the forum and any specific instructions for this week’s topic. The discussion assignment consists of two parts. Select one of the questions for Part 1 and answer Part 2. By the due date assigned, submit your answers to Part 1 and Part 2 to this Discussion Area. Post the answers to both parts in one thread. Label your answers Part 1 and Part 2, but do not repeat the scenario text in your responses. Start reviewing and responding to your classmates as early in the week as possible. You should review and critique the work of other students as outlined in the expanded rubric by the end of the week. Discussion Question Part 1 Select one of the scenarios listed below and explain the best solution for each. Include comments related to any ethical issues that arise. You should locate at least one scholarly source from the SUO Library or one case that has been decided or is currently pending to support your answer.
Scenario 1 – Liability on Negotiable Instruments Porter Cable hired a bookkeeper, Gerald Smith, and gave him general authority to issue company checks drawn on First Bank so Smith could pay employees’ wages and other company bills. Smith decided to cheat his employers out of $9,500 by issuing a check payable to Timkin Bearings, one of the suppliers of bearings. Smith does not intend for Timkin to receive any of the money, nor is Timkin entitled to the payment. Smith endorses the check in Timkin’s name and deposits the check in an account that he opened in Sunny Bank in the name “Timkin Bearing Co. Sunny Bank accepts the check and collects payment from the drawee bank, First Bank. First Bank charges Porter Cable’s account $9,500. Smith transfers $9,500 out of the Timkin account and closes it. Porter Cable discovers the fraud and demands that their account be re-credited. Evaluate the arguments for Porter Cable and the banks. Determine which party should win and support your answer. Provide arguments for each party. Determine which party will win. Provide support for the arguments and the final answer with cases or scholarly articles from the South University Online Library.
Scenario 2 – Negotiable Instruments Ginny DeWitt borrowed $30,000 from SunTrust Bank to pay for her first year of college and signed a promissory note that required payments to start six months after graduation or the student fails to enroll in at least one-half of the full time load. Ginny dropped out of college to pursue her passion of opening a gift shop. When Ginny failed to pay the debt, SunTrust transferred the note to First Bank in New York. New York Bank obtained a court order allowing it to garnish Ginny’s wages and her federal income tax refund. Ginny filed a lawsuit seeing to avoid the payment, claiming the debt was not valid because she did not sign any documentation promising to pay First Bank. She also argued that the note lacked consideration. Explain the holder or holder in due course status of SunTrust when the bank took the note from Ginny and then First Bank when it took the note from SunTrust. Address GInny’s arguments concerning the validity of the debt. Determine the outcome of the case and provide support for your answer.
Scenario 3 – Holder in Due Course John Haley hired Mary Black as a bookkeeper at Florida Dental Center, Inc. Haley fired Black when he learned that she embezzled more than $200,000 and did not pay over $150,000 in state and federal taxes owed by the business. Haley said that if Black did not repay the embezzled funds, he would notify law enforcement. Black started working as a bookkeeper for Senior Daycare, a business owned by her father. Without proper authorization, Black wrote a check to Florida Dental for $175,000 out of Senior Daycare’s account and deposited the check directly into Florida Dental’s checking account. Black told Haley that the funds were a loan from her family so she could repay Florida Dental. Haley used the funds to pay the back taxes owed. Two years later, Black’s father discovered her theft and sued both Haley and Florida Dental for conversion because Black did not have authority to take the funds. Evaluate Florida Dental’s status as a holder in due course (HDC) of the funds Mary repaid. Since Haley knew that Black previously embezzled funds from Florida Dental when she was an employee, should Haley have been suspicious about the source of the funds that Black used to repay the debt? Could this knowledge impact the court’s decision? Provide support for your answers. Discussion Question
Part II Using the business you created in Week 1, select three topics from the list below and explain how your business will handle issues related to the topics.Justify your answers with relevant laws, cases, or examples. Acceptance of checks Prevention of forgery (internal employees) Dishonored (returned checks) Acceptance of payment by electronic means, such as PayPal Alternative payments such as Bitcoin, BPAY Gift cards Issuing credit to customers. Get Essay writing help.
Why Choose Us
Premium Quality Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional Assignment Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Timely Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
Customer Support 24/7
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Fill in the order form and provide all details of your assignment:
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Our Assignment Writing Help Services
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.