Case study for shearson lehman brothers vs wasatch bank essay

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Case study for shearson lehman brothers vs wasatch bank essay

Login Notwithstanding the absence of an account in the name of the payee, ERP accepted the check for deposit at Shearers. Matthews suggested that a substitute check be correctly drawn and submitted for deposit from Shearers. ERP responded by assuring Matthews that he would personally guarantee that the check was credited to the appropriate account.

However, rather than depositing the check into on of the authorized Workforce accounts, ERP opened a new account at Shearers in the name of ABA investments. ERP apparently forged the signature of Bruce Abstain on the new account documents.

No evidence In the record suggests that Abstain or any other Workforce or Utah Softy representative authorized or subsequently deified the creation of the new account. ERP listed as the address of records for the ABA Investment account a post office box number in Room, Utah, which was unknown to Workforce and Its principals and was different from the record address for the other there Workforce accounts.

He took the check to Wastage Bank for deposit into his personal account for which Wastage accepted the deposit. Shearers brought suit against Wastage. The issue is whether or not Wastage would be liable for cashing the forged check. My answer is yes they should. This case was first trialed in the District Court in Utah.

ERP deliberately induced the issuance of checks by Shearers. The payee named on those checks was never intended by ERP to take an interest in the checks.

In such circumstances the mandate of the Code Is clear? Nevertheless, no Tact NAS Eden alleged which would support the inference that Wastage acted in bad faith so as to preclude the operation of the fictitious payee defense.

Moreover, the defense is viable against Shearers whether Shearers stands in the position of the drawer of the checks or the payee. Finally, the defense is an absolute defense to both the statutory and common law causes of action alleged in the complaint.Case Study for Shearson Lehman Brothers vs.

Wasatch Bank. Shearson Lehman Brothers, Inc. vs. Wasatch Bank In March , Erb personally accepted from Matthews a check drawn by Utah Softcopy and payable to the order of “APB Investments.” The amount of the check was $, Shearson Lehman Brothers, Inc.

vs. Wasatch Bank In March , Erb personally accepted from Matthews a check drawn by Utah Softcopy and payable to the order of “APB Investments.” The amount of the check was $, Lehman Brothers Case Study - Download as PDF File .pdf), Text File .txt) or read online.

Lehman Brother Case Study. Lehman Brothers Examiner's Report, Vol (Valukas. culminating into a takeover by American Express which later merged with Shearson to form Shearson Lehman Brothers in This Act was amended and replaced in to.

2. Are the top feeders always the same participants?

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If they always make a "perfect guaranteed profit" then how can they ever slip from their perch of being a top feeder? (Were EF Hutton, SW Strauss, Shearson, SmithBarney, Dillon, Kidder, Drexel, Revco, Bear, Lehman, Merrill once top-feeders?) 3. Case Study for Shearson Lehman Brothers vs.

Wasatch Bank. Topics: Cheque, Shearson Lehman Brothers, Inc.

Case study for shearson lehman brothers vs wasatch bank essay

vs. Wasatch Bank In March , Erb personally accepted from Matthews a check drawn by Utah Softcopy and payable to the order of “APB Investments.” harrison brothers case study Essay 1. Background Harrison. Case Study for Shearson Lehman Brothers vs. Wasatch Bank. Shearson Lehman Brothers, Inc.

vs. Wasatch Bank In March , Erb personally accepted from Matthews a check drawn by Utah Softcopy and payable to the order of “APB Investments.” The amount of the check was $,

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