Ann gives a check to beta investments to buy 100 shares of, Ask an Expert

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Q. Ann gives a check to Beta Investments to buy 100 shares of stock in Computer Technology Corporation for Ann. The price of the shares is constantly fluctuating. Beta asks Ann to leave the amount of the check blank and allow Beta to fill in the price when making the purchase. Ann agrees. Beta buys the stock when the price is $4,000 but fills in the check for $5,000. The check is negotiated as payment for a $5,000 debt to Delta Accounting Services, which takes the check in good faith and without notice of Beta's act. Delta later learns which Beta was not authorized to fill in the check for $1,000 over the price. Is Delta an HDC? If so, for explain how much?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9352340

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