Ivan Is a Representative of Sigma Inc

question 27

Essay

Ivan is a representative of Sigma Inc., Checks are drawn by "Sigma Inc., Payroll Account (signed)
D. Ivan," but the checks are not paid. Who is liable on the instrument-the individual or the corporation?
When a representative signs an authorized signature to an instrument, then the representative is not bound provided the signature shows "unambiguously" that the signature was made on behalf of the represented person who is named in the instrument. Sigma Inc. is, therefore, liable for payment of the checks and not Ivan, even though Ivan signed the checks.

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Definitions:

Business Plans

Detailed documents that outline the objectives, strategies, financial projections, and operational guidelines for starting and managing a business.

Potential Pitfalls

Refers to possible dangers or problems that might not be obvious at first and could hinder success.

Technical Skills

Competencies and knowledge required to perform specific tasks, often related to IT, engineering, or other specialized fields, involving practical expertise.

Human Development

The process of improving people's well-being through education, health care, and access to opportunities.