Teff entered archers office and stole from archer some, Ask an Expert

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Teff entered Archer's office and stole from Archer some radios and Archer's wallet containing identification. Subsequently, representing himself as Archer, Teff induced Bane to purchase one of the stolen radios for a fair price. Bane gave Teff his check made out "Pay to the order of Archer." Teff endorsed the check "Pay to the order of Crown, Archer" and transferred it to Crown for cash in the amount of the check. Crown endorsed the check "Pay to the order of Fox, Crown" and transferred the check to Fox to be applied to his account. Bane's check was:

A. Order paper initially and negotiated by Teff to Crown.

B. Nonnegotiable absent a valid endorsement by the real Archer.

C. Void from the beginning.

D. Bearer paper when Crown took it.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M980051

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