Asked by
Ryota Sumiyoshi
on Dec 06, 2024
Verified
Green Grocer Wholesale,Inc.received an $850.00 check from Bob for a grocery purchase.The check was from Forest Enterprises to Ana and had been indorsed to Bob who,in turn,indorsed the check to Green.The clerk at Green failed to carefully examine the check,not noticing that the number 5 had been changed to an 8.Green Grocer has:
A) not taken the instrument in good faith.
B) taken the instrument in good faith.
C) not taken the instrument in good faith to $500.
D) taken the instrument in good faith to $300.
Good Faith
The honest intention to act without taking an unfair advantage over another party, based on the belief that others will similarly act honestly.
Altered
Changed, modified, or adjusted from the original state or form.
Green Grocer
A retailer specializing in the sale of fresh produce, including fruits and vegetables.
- Comprehend the importance of integrity and mutual respect in dealings concerning negotiable instruments.
Verified Answer
HK
Learning Objectives
- Comprehend the importance of integrity and mutual respect in dealings concerning negotiable instruments.