ALLIED BUS230 MODULE 8 HOMEWORK ASSIGNMENT

Welcome to the Module 8 Homework Assignment for BUS 230: Principles of Business Law I.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.Running head: [INSERT
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American University

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PART I
Directions: Please review
the questions below and write a 3-4 page essay analyzing each legal issue
presented in this week’s modules readings.
Please apply APA format with in text citing, reference list, and
double-space. Limit your word count to
2,000 words. Please visit the Academic
Resource Center for help with APA format.
If applicable, include arguments from
each side. If a criminal case exists,
you would present arguments from the prosecutor and the defense attorney. If it is a civil case, then you would argue
as a plaintiff and defense lawyer. Be
sure that your answers respond to the questions. Do not restate the problem in your
answer. Mention the facts where relevant to your analysis. If you
are asked for a recommendation, be sure to include one, but do not fail to
consider counterarguments. If your
answer depends upon essential information not set forth in the question, state
what that information is and how it affects your answer. If facts are missing in your argument, please
state what facts would be pertinent to each party’s case; also list any facts
or information that could potentially damage a party’s case.
Read the questions carefully and attempt
to answer each directly. Clear,
well-organized, and concise writing will be rewarded. If there are ambiguities in the questions,
discuss the ambiguity and how it impacts your answer. You may consult your text, lecture notes, or
outlines that you have personally prepared.
Submit your responses to the following:

1. A certificate of deposit is the bank’s
promise to repay an amount left on deposit for a certain time. When would you use or present a bank with a
COD?

2. A promissory note is an instrument by which
one person promises to pay a sum of money to another. What makes up a promissory note and how does
it differ from a check or draft?

3. “Payable to bearer” are words directing an
instrument to be paid to person holding it.
What effect does writing this on a check have?

4. An allonge
is an attachment to a negotiable instrument on which endorsements are
placed. When would an allonge be used or
applied in a case?

5. The indorser is one who negotiates an order
instrument by endorsement and delivery.
Why would someone be an indorser and what liability would they have?

6. A qualified indorsement is an indorsement
limiting endorser’s liability. Why would
an individual sign as a qualified indorsement?
What would their liability be?

7. A notice of dishonor is a notice given to the
secondary party orally or in writing that the primary party has refused to pay
instrument. Why would a notice of
dishonor be given?

8. Presentment is a demand for payment of
commercial paper made by the holder.
Provide an example of when an individual may use presentment in a claim.

9. A forged check is a check on which drawer’s
signature is made without authorization.
How do banks handle forged checks?

10. A postdated check is a check dated after its
actual date of issue. In what scenario
would a bank reject a postdated check?

11. What kind
of writing is required for a negotiable instrument?

12. May a maker
or acceptor have an option to extend payment without destroying negotiability?

13. What is the
significance of an instrument qualifying as a negotiable instrument when it
comes to the transferability of the instrument?

13. What are
the requirements for a person to become a holder? What about a holder in due
course?

14. Saxon died
April 12. His sister-in-law immediately filed a claim against Saxon’s
estate for $500, which is the amount of a check issued to her on August 18
(eight months earlier) by Saxon for her services as an accountant.
Liability was denied by the person in charge of Saxon’s estate, who claimed
that because the more than six months old, it was void. Does a check
become void because the payee failed to cash it within a six-month period?

PART
II

Module 8 Journal
Assignment
Directions: Negotiable instruments are more efficient and
safer than using cash on a regular basis.
Do you agree? Why or why not? Please apply APA format with in text citing,
reference list, and double-space. Limit
your word count to 400 words. Please
visit the Academic Resource Center for help with APA format.