negotiable instrument

Discussion 1

 

Larry London (LL) buys a computer with his new store credit card at Greatest Get (GG). GG immediately sells the right to receive monthly payments from LL to a finance company, Friendly Finance (FF). Unfortunately for LL, the computer stops working three months after he purchased it. As GG won’t return his calls regarding his broken PC, LL stops making payments. Long story short, all stakeholders (LL, GG, and FF) are fed up with each other’s behavior; they all lawyer up.

 

You are LL’s lawyer. Explain to your client all the possible issues you’ve learned in this week’s material that help and hurt his or her chances of winning a potential lawsuit. Remember to “keep your eye on the ball”. Limit your discussion to this week’s material. For example, you may want to consider whether the parties have a negotiable instrument. If so, what kind? What defenses might there be on that instrument?

 

 

 

Discussion 2

 

Marvin Mower (MM) is a college student trying to earn a few extra bucks. Marvin mows yards on the side, and he cuts the lawn for Ursula Unhappy (UU). UU writes MM a document for his work. The document acknowledges MM performed work, and that UU owed MM $50. MM doesn’t have time to get to the bank, so MM gives the document to Tommy Thirdparty (TT), who pays him $40 for it.

Predictably, before TT can try to recover $50, UU is unhappy with MM’s work, and refuses to pay TT.

Keeping your “eye on the ball” (limiting your post to this week’s material), discuss all the possible rights and responsibilities these three have to each other concerning the check and the yard.