CLASS / COURSE: Business Law
I want you to do is find a case that involves a check or negotiable instrument financial fraud. It doesn’t have to be a case that has already been decided by the courts. It could be a newspaper article about a financial fraud involving negotiable instruments. The hard part is to narrow your search to find the one you want. They can be civil and/or criminal cases. Hint try searches for words like forgery check check fraud signature Article Three Uniform Commercial Code.
PLEASE answer the questions in order and by number rather than in an essay format. For the case I want you to write a paper (basically just answer the questions) that answers or does the following items:
1- Summarize the facts of the case in an understandable fashion. Draw a diagram of what happened if you wish. Don’t cut and paste the information from the case (or news story (CITE SOURCE WEB ADDRESS IS FINE). I can read, what I want you to demonstrate is that you can explain to me what happened.
2- Describe the issues the courts are or would be facing… i.e. the issue in front of the court is whether the Plaintiff, defendant broke the law by…. Or whether a bank is responsible for the financial frauds of its employees when they knew or should have known that a fraud was going on… there may be more than one issue in each case. Note the grade on number two is in part based on whether you described the major issues of the case…. (ISSUE)
3- Describe the RULE (the LAW) for each issue you described in Number two above. In this section I want you to use the Negotiable instrument rules, forgery rule, imposter, rule, fictitious payee rule (when they apply), and describe to me how what they did violates the rule In this point, it is expected that you would quote the relevant area of the law.. .
4- (Analysis), Describe HOW the facts as they happened in your case either fit in with the description of the law or are different.
5- Conclusion, Based on your analysis do you feel the court reached the right conclusion… why or why not.
6- Put yourself in the shoes of the Accountant of a corporation if money was stolen from them (by an employee or whomever), or in the shoes of the bank that paid the check that was forged, What accounting protocols were neglected or can be improved in your case…. The idea here is that when you have an inside employee who commits these acts it usually occurs because of fundamental violations in the Accounting system structure. I imagine in accounting 201 you covered the proper division of duties and responsibilities.
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SUBJECTS / CATEGORIES:
1. Business Law/Corporate Law
2. General Law