If a Good Has Been Stolen and Is Then Sold

question 268

Multiple Choice

If a good has been stolen and is then sold to an unsuspecting buyer:

• A) the good title does not pass to the buyer
• B) the good title passes to the buyer as long as he is unaware the good is stolen
• C) the buyer must pay the rightful owner of the good
• D) the buyer is liable for damages to the good and may have to serve jail time
• E) the good title passes to the buyer whether or not he knows the good was stolen

Understand the concept of negotiability and the characteristics that make an instrument negotiable.

Understand the rights and obligations of a Holder in Due Course (HDC) and the protections afforded to them.

Comprehend the impact of endorsements on the negotiability and transferability of instruments.

Recognize the legal implications of fraud and illegal activities on the enforceability of negotiable instruments.

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