Uniform Commercial Code Unauthorized Indorsements

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timer Asked: Feb 2nd, 2019
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Question Description

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.

Assignment Instructions

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.

Additional Requirements

  • 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.

Attachment preview

 27–6. Unauthorized
Indorsements. Angela Brock bor- rowed $544,000 and signed a note payable to
Amerifund Mortgage Services, LLC, to buy a house in Silver Spring, Maryland.
The note was indorsed in blank and transferred sev- eral times “without
recourse” before Brock fell behind on the payments. On behalf of Deutsche Bank
National Trust Co., BAC Home Loans Servicing LP initiated foreclosure. Brock
filed an action in a Maryland state court to block it, argu- ing that BAC could
not foreclose because Deutsche Bank, not BAC, owned the note. Can BAC enforce
the note? Explain  

Unformatted Attachment Preview

27–6. Unauthorized Indorsements. Angela Brock bor- rowed $544,000 and signed a note payable to Amerifund Mortgage Services, LLC, to buy a house in Silver Spring, Maryland. The note was indorsed in blank and transferred sev- eral times “without recourse” before Brock fell behind on the payments. On behalf of Deutsche Bank National Trust Co., BAC Home Loans Servicing LP initiated foreclosure. Brock filed an action in a Maryland state court to block it, argu- ing that BAC could not foreclose because Deutsche Bank, not BAC, owned the note. Can BAC enforce the note? Explain ...
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Tutor Answer

Emilyprofessor
School: Boston College

Attached.

Running Head: UCC Essay

1

UCC Essay
Name
Institutional Affiliation
Date

UCC Essay

This is basically an elaborate act that is as a result of common agreement among states in
the American continent. In its self the UCC is not a law as such but an act that the different states
have agreed to conform to (Gikay & Stanescu, 2018). This came to being as a result of a
recommendation from the private institutions and ever since it has been adapted to be a suitable
ground for them to w...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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