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Question
Joe went to a music store; misrepresenting himself as James to the store attendant. He buys a plasma television on credit, charging it to James's account. He then sells that set to Mike. Mike buys the set in good faith. Which of the following is true in such cases?
A. The store person can restore the TV from Mike.
B. James can recover the TV from Mike.
C. Mike will be held liable by the court for possessing stolen item.
D. Mike will hold a good title; hence no harm can be caused to him.
Answer
This answer is hidden. It contains 98 characters.
Related questions
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Which of the following was the earliest federal legislation enacted to protect water bodies against pollution?
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Q:
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A. $20,000 fine and one year imprisonment.
B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
Nast Corp. orally engaged Baker & Co., CPAs, to audit its financial statements. The management of Nast informed Baker that it suspected the accounts receivable were materially overstated. Although the financial statements audited by Baker did, in fact, include a materially overstated accounts receivable balance, Baker issued an unqualified opinion. Nast relied on the financial statements in deciding to obtain a loan from Century Bank to expand its operations. Nast has defaulted on the loan and has incurred a substantial loss. If Nast sues Baker for negligence in failing to discover the overstatement, Baker's best defense would be that:
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C. A securities broker who provides investment advice to retail investors.
D. An attorney who advises companies on corporation and business laws.