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Robert Williams was at The Meadowlands Racetrack and was using a voucher to place bets in an automated machine. On the voucher was Williams' name and the following writing: "Bet against the value or exchange for cash." After placing a bet, Williams took his ticket but forgot the voucher which had thousands of dollars left on it. When Williams returned a few minutes later, the voucher was gone. Williams immediately attempted to put a stop payment on the voucher but it had already been cashed. Williams sued the racetrack. Williams will win because the racetrack was negligent in not requiring proof of identity since the voucher is a negotiable instrument.

Financial Management, Finance

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