A co-worker of Illinois licensee Mona shared a client’s confidential information with her and asked Mona not to tell anyone. Instead of keeping it to herself, Mona gave the information to another licensee. Which statutory duty has been breached? Adhere to the brokerage agreement’s terms Employ reasonable skill and care in performing brokerage services for the client Keep all confidential information provided by the client confidential Serve the client’s best interests

Gaby Gonzalez obtained two CDs at second Federal savings and Loan association (second) with her daughter, Juana Martinez, as beneficiary. right before Gonzalez died, she told her cousin, rafael Gonzalez, where to find her CDs. The CDs had a line through Martinez’s name and rafael Gonzalez’s name added in the section for beneficiary with the notation, “revised beneficiary . . . rc” after Gaby’s death, rafael withdrew some funds to pay funeral expenses and legal fees from one of the CDs. several years later, Rafael discovered that second had paid the CDs to Hector Gonzalez, who was the administrator of Martinez’s estate. Rafael sued second, claiming as the beneficiary that it should have paid him. who was entitled to the proceeds of the CDs?

Textile Inc. sells goods to United Stores in exchange for a note signed by the buyer. Textile sells the note to Valley Finance Company. In this situation, transfer warranties arise because   a. Valley has no knowledge of any bankruptcy proceedings against United.   b. the signatures on the note were authentic and authorized.   c. Textiles did not alter the note.   d. the note was transferred for consideration.

Reed, a manager for XYZ Products, issued company checks to pay his personal debts.  So that no one in the company would know what he was doing, he disguised the name of the payees.  For example, to pay his American Credit Card bill, he issued the XYZ check to “American.” XYZ Products sued the recipients of the checks, such as American Credit Card, demanding that the funds be returned.  The trial court ruled against XYZ Products concluding that the Defendant-Payee, American Credit Card, was a holder in due course and thus took the checks free of any claims or defenses.    Was the trial court correct in ruling that American Credit Card is a holder in due course? Why? What law is applicable?  Can Reed be held criminally liable for his actions? Why or why not?  Can Reed be civilly liable for his actions? To whom might Reed be liable and for what? 4. What is the business lesson to be learned from this case? Is this a fair result based on public policy constructs applicable to property…