When office supply store presents the check for payment

Reference no: EM131016744

Lon gives Adam a $200 check as payment for a debt. Adam crudely raises the amount of the check to $1,200 and transfers it to Beta Computers for a new hard drive. Beta deposits the check in its City Bank account. Lon raises the defense of material alteration against payment of the check. Who is entitled to $1,200?

A. Adam only.

B. Beta and City Bank only.

C. Adam, Beta, and City Bank.

D. none of the above.

Mona, an employee of National Corporation (NC), is authorized to use a signed NC check to buy supplies. Mona fills out the check so that it states an amount $500 in excess of the purchase price and cashes it at Office Supply Store. When Office Supply Store presents the check for payment, it may recover

	A.	nothing.
	B.	the amount by which the check exceeded the price of the supplies.
	C.	the amount stated in the check.
	D.	the price of the supplies.

Reference no: EM131016744

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