Can he successfully assert fraud as a defense

Reference no: EM131472314

Question: On June 2, Sibley Co. assigned to the HMCK Bank for $70,000 its entire interest in a $75,000 account receivable due in sixty days from Farmer. On June 4, HMCK Bank notified Farmer of the assignment. On June 7, Farmer informed HMCK that Sibley Co. had committed fraud in the transaction out of which the account receivable arose and that payment would not be made to HMCK. Should HMCK begin an action against Farmer? If Farmer is able to prove Sibley Co. acted in a fraudulent manner, can he successfully assert fraud as a defense?

Reference no: EM131472314

Questions Cloud

What is the bribery : Nichols paid a bribe of $50,000 to Galvin, the mayor of a large city, to "look the other way" while Nichols brought drugs from out of the country by airplane.

Determine the information that the conceptual model : Determine the information that the conceptual model of the database would include and determine information that physical model of the database would include.

Identify the competencies that reflect use of theory : Read the AACN documents for essentials of baccalaureate versus master's education and identify the competencies that reflect use of theory and knowledge.

Sets up schedule for communication : Sets up schedule for communication. Provides contact information if needed.Clarifies process for conflict resolution.

Can he successfully assert fraud as a defense : On June 2, Sibley Co. assigned to the HMCK Bank for $70,000 its entire interest in a $75,000 account receivable due in sixty days from Farmer.

Discuss the degree to which you believe the visio diagram : Discuss the degree to which you believe the Visio diagram reflects the database design. Submit the design summary as a Microsoft Word file.

Calculate the accounting rate of return : Determine the NPV of the new facility - Calculate the IRR (approximate) - Calculate the payback period and Calculate the accounting rate of return.

Which of these best fits your philosophy of nursing : Explain, in your own words, the difference between the three paradigms: human needs, interactive, and unitary process. Which of these best fits your philosophy

Can fnb enforce payment of contract against beldon : The Marco Roofing Company entered into a written contract to put a new roof on Beldon's house. The contract stated that "an assignment of the contract.

User Account

All Pages