Sue issued personal check made payable to the order of mike

Assignment Help Operation Management

Reference no: EM132175866

1. Ann, agent/employee for Best Insurance Company, Inc. accepts a check from a customer made payable to her (Ann) in payment for the premium on an insurance policy. Prior to depositing the check in the company’s bank account, Ann indorses the check as follows: "The Best Insurance Company, Inc. by Ann, agent." Assuming that Ann has authority to indorse company checks,

a. Ann is the only payee as she indorsed the check with her name.

b. Neither Paula nor Best Insurance is a payee on this negotiable instrument.

c. Ann and Best Insurance are both payees, based on Ann’s indorsement listing them both.

d. Best Insurance is the payee. Ann is acting solely as agent for Best

2. Sue issued a personal check made "payable to the order of Mike." Mike indorsed in blank. On the way to the bank, the check flew out the open window. Homeless man found the check and cashed it at a check cashing store. Which statement below best fits?

a. Mike turned a bearer instrument into an order instrument.

b. Mike turned an order instrument into a bearer instrument.

c. Sue is not liable on the check because the homeless man has no right to be paid.

d. Homeless man is a holder in due course with a right to be paid. He has possession of a bearer instrument.

3. a car dealership is considering discounting cars, providing a year of free service with the purchase of a new car or selling a full price . Consider the payoff matrix noted. Note the likelihood of coming recession is 30%. Use decision analysis to examine the best choices using of the following:

Optimistic

Conservative

Minimax regret

Expected Value

Reference no: EM132175866

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