Material for multiple payees and corresponding code section

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Reference no: EM13754178

SIMS and PARTNER opened a business and their checking account included both names. BIG COMPANY, a client of the business issued a check in the amount of $150,000 for future services and made it payable to SIMS, PARTNER, with the names stacked one on top of the other. SIMS endorsed the check and cashed it at their bank. Scoundrel that she was, SIMS absconded with the money, probably to a warm, Caribbean country. What recourse, if any does PARTNER have against the bank. Make sure you review the material for multiple payees and the corresponding code sections before you answer. Include references to code sections in your answer.

BUSINESS LAW AND UCC

Reference no: EM13754178

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Material for multiple payees and corresponding code section : SIMS and PARTNER opened a business and their checking account included both names. BIG COMPANY, a client of the business issued a check in the amount of $150,000 for future services and made it payable to SIMS, PARTNER, with the names stacked one on ..

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