Uniform Commercial Code Application

Any Kind Checks Cashed, Inc. was a holder in due course in its case v. Talcott. In this case and elderly gentleman John C. Talcott, who was defrauded the sum total of $15,700 in the form of two checks, $10,000 and $5,700 respectively. Both checks were issued to D. J. Rivera and were later cashed at Any Kind Checks, Inc. by Salvatore Guarino. Talcott stopped payment on both checks after the initial check was an over payment and the second was discovered be conceived by fraud. Both checks were returned to Any Kind Checks Cashed, Inc. Any Kind Checks, Inc. brought suit against Talcott and Salvatore Guarino (Twomey & Jennings, 594-597).

• Reason - Tellers must have examined the check carefully, considered legal and Credit Union requirements,

5. The of a check is the person who is presenting it for payment and may not be the person named as the payee. 6. Grace studied the , which is a series of laws that regulates sales of goods, commercial paper, secured

The E/M code's is a big important part in this process. Being a health care professional, using the medical code's. like medicare, medicaid, other private insurance to be reimbursement. If not using the right code, the doctor office, hospital, and urgent care. Will lose a lot of money. So using the right cpt code's insurance companies, office, hospital, and urgent care can be reimbursement correct. Cause CPT code's are formed with 5 digits.

Contracts are formal agreements between people or businesses however, there are many different types of contracts and many different parts to a contract. There are a couple of elements of a contract. First proposal of the contract is accepted than consideration of the offer. In addition to that, a contract must be for a lawful purpose and the adults must be of sound mind to consent to a contract. Lastly, writing some types of contracts must be in writing to be enforceable. There are two contract rules for governing the sales of goods and the sale of services. The Uniform Commercial Code (UCC) is the code used for the sales of goods. The sales of services is use common law to govern these contracts.

The Uniform Commercial Code is a comprehensive code necessary that throughout the United States of America, states abide by in order to mandate the interaction of sales between buyers and seller. The Uniform Commercial code would be nothing without commercial law. Commercial law applies to the rights, relations, and conduct of persons and businesses committed in commerce, merchandising, trade, and sales. These laws have evolved sufficiently throughout the years. The Uniform Commercial Code and Commercial law have created a rule-book so that problems that would delay interpretation and efficiency of trade would not occur.

Under the Uniform Commercial Code (UCC), section 3-302, the bank took the check for value, in good faith, without notice that the check was dishonored, and had not been altered. Therefore, the credit union paid the check, indorsed the instrument, and submitted to the maker for payment. (Law.Cornell.com, 2015) Due to the fact that the Credit union met the requirements of the UCC, section 3-302 they are a Holder in Due Course.

But both cases are different as in the first case the third party knew of the restrictions placed on the agent but since the principal did not object to it, the agent was held out as having the authority to receive payments. In the second case, the third party were unaware of any restrictions placed on the agent by the principal and also, it was thought that ordering goods was under the usual authority of the manager. In both the above cases the principal was held responsible and could be sued for damages. But both the above cases can be contradicted by the case British Bata Shoe Co Ltd V Double M Shah Ltd 1980 SC 311, where the pursuers were the principal, the cashier was the agent and the defenders were the third party. The pursuers had supplied goods to the defender, who had made payment to the pursuer’s cashier, who had no authority to receive payment. The cashier asked for the payee’s name to be left blank on the cheque, and he later stole the cheque and cashed it for himself. The pursuer sued for payment for the goods and the defender claimed they had been paid for. Even though the cashier had ostensible authority to receive payments, when the cashier asked for the payee’s name to be left blank, the defender should have suspected something was wrong and should have checked whether the cashier had the authority. Hence, in this

A new law will probably be introduced into state legislatures which will govern all contracts for the development, sale, licensing, and support of computer software. This law, which has been in development for about ten years, will be an amendment to the Uniform Commercial Code. The amendment is called Article 2B (Law of Licensing) and is loosely based on UCC Article 2 (Law of Sales), which governs sales of goods in all 50 states. A joint committee of the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute is drafting the changes to the UCC.

The Uniform Commercial Code is a set of legal rules that was developed to bring about a sense of consistency to the commercial industry. It is merely a blueprint of how the developers interpret the way of doing business that would be fair and just to all parties concerned. It was totally up to the individual states if they would enact the UCC as written or construct modifications they felt were necessary to circumstances within that state. Once the codes were adopted by an individual state, they became the legal authority that still governs the way many business transactions are handled today.

Business dictionary defines a checkless society as a society where all financial transactions are done electronically. In this time and age of the twenty first century just about almost all transactions are conducted electronically. Yes, the advancement of technology has made this push in the financial industry where transactions can be done electronically because it’s so much easier to do so. Apps on phones make it so easy to reach the bank, and move money from different accounts. Then if not an ATM is usually somewhere in a close range. Not to mention that you can set up electronic checks with your employer so that your check hits your account when it’s time for payroll. It’s pretty convenient when you don’t need to go out of your way to pick up a check and then deposit it before the banks clothes.

a. To avoid suffering the kinds of monetary losses we have experienced in the past, our credit union prohibits the cashing of third party checks presented by our members.

All incoming checks are received daily by CSI Cashiering department. All checks received must be deposited or sent back to a customer by 12 noon on the business day following receipt of the check. This document outlines the steps a Quality Assurance colleague will take when QC testing check deposit by CSI Cashiering department.

Mr. Shehand is ID and has received a check since the age of 14. His mother, Eunice Bunt has been his rep. payee since the check begun. Since Mr. Shehand has been living with Ms. Watts, he received 100.00 each month from his mother. According to Mr. Shehand

• Describe the meaning and marketing of cheques, crossing of cheques and cancellation of crossing of a cheque;