When a bank certifies a check, the amount involved in the certification will be retained
in the depositor’s account until payment of the certified check.
Coppersmith executed and delivered negotiable notes to the payee, Charlene. The payee
indorsed the notes to Whitehurst but did not deliver them. Instead, she kept the notes in
her possession because she wanted to collect the interest during her life and wanted the
indorsee to have the notes on her death. After Charlene’s death, her executor,
Cartwright, found the notes. Both Cartwright and Whitehurst sought to enforce the
notes against Coppersmith. Who was entitled to do so?
Rule 10b-5 only applies to registered securities.
The drawee on a check is a bank.
Jones and Clark entered into a written contract for the purchase of an apartment
building by Clark. The contract was carefully drafted to set forth the agreement of the
parties. It was signed by both parties. Clark subsequently claimed that the contract did
not cover all the terms included in the written and oral agreements that the parties had
made during their prior negotiations.Jones claimed that the parol evidence rule barred
proof of all of their prior agreements. Which claim would be upheld in court?