For this assignment, you will consider the nature and types of indorsements, and the liability of a bank for unauthorized indorsements.
By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and assignment criteria:
- Competency 1: Explain how the Uniform Commercial Code governs commercial transactions.
- Distinguish between authorized and unauthorized indorsements, under the provisions of the UCC.
- Determine whether the holder of a note is entitled to enforce it, under the provisions of the UCC.
- Competency 6: Communicate professionally, according to the expectations of the field of accounting.
- Express main points, arguments, concepts, and information coherently and logically.
Analyze Business Case 27-6, “Unauthorized Indorsements,” located on page 515 of your textbook. Prepare a professional-caliber brief on the case.
Based on the case information provided:
- State the facts of the case and the key issues.
- Cite the code or statute provisions applicable to the case.
- Determine whether BAC can enforce the note, and explain your reasoning.
- Express your main points, arguments, concepts, and information coherently and logically.
To support your brief:
- Explain the difference between authorized and unauthorized indorsements.
- Cover page: Include your name, the assignment number, and the assignment or case title.
- Length: 1–2 double-spaced pages, not including the cover page.
- Font and font size: Times New Roman, 12-point.
- APA formatting: Format resources and citations according to current APA guidelines.