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Slav-nsk [51]
2 years ago
12

Tom was CEO of a company. He stole money from the company by writing a series of checks made out to “Cash” which he deposited in

his own personal account at Bank. (Please do not try this at home.) Of course, he then spent the money. The company sued the Bank to get the money back.
Was the Bank a holder in due course?
Business
1 answer:
xxTIMURxx [149]2 years ago
6 0

In the given case, bank is  not consider as holder in due course because here it will act as intermediary who collected amount from company's account.

<h3>What is holder in due course?</h3>

A holder in due course refers to an individual who have the authority to hold the negotiable instrument in good faith.

This holder in due course will be referred to as the person who have received or given something in exchange for the instrument.

When any individual receives a gift from someone, then it will not be considered as holder in due course because he had not given any value in exchange.

So yes, in this situation when the CEO stole money from the company  by writing a series of checks and withdrawing it in a personal account at the bank. Bank will be not be considered as holder in due course due to intermediary role.

Learn more about holder in due course, here:

brainly.com/question/27778407

#SPJ1

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Explanation:

The internal rate of return is the return in which the NPV is zero i.e cash inflows equal to the initial investment

While the WACC refers to the cost of capital by considering the capital structure i.e cost of equity, cost of preferred stock and cost of debt by taking their weightage

Now if the WACC is 9% so project B NPV would be higher as compared to project A as we can see that project B IRR is greater than the project A IRR

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I have 3 statements

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3 years ago
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If the damages are not significant, then the court will probably assign some amount for nominal damages. To be honest, the greatest expenses here are actually the legal costs of the lawsuit. Unless Dealer can prove that assigning the contract actually hurt them (which I doubt), then the court will assign a small amount. Sometimes nominal damages can be very small and mostly symbolic, e.g. $1.

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