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Essay Available:
Pages:
3 pages/β‰ˆ825 words
Sources:
2 Sources
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 14.04
Topic:

Contracts and the Uniform Commercial Code (UCC)

Essay Instructions:

Consider the Auto-Owners Insurance Co. v. Bank One case and apply areas of the UCC to complete each of the following in three pages:
Make a supported determination if Wulf or the bank has the burden of proving a lack of ordinary care on the part of his bank.
Analyze how the outcome or opinion might have changed if Wulf had managed his account electronically rather than manually. Include specific examples and direct citations from the UCC.
Based on your understanding of the UCC Article 3, Part 4, recommend three effective steps that Auto-Owners should have taken to prevent such internal fraud.
Be sure your assignment meets the following requirements:
Three pages in length.
A minimum of four citations from the UCC or other appropriate sources.
There is no special formatting required for the report, but it should be professionally composed and presented and adhere to Strayer Writing Standards.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.

Essay Sample Content Preview:


Contracts and the UCC
Student’s Name
Institutional Affiliation
Contracts and the UCC
The legal dispute in 2006, Auto-Owners Insurance Co. v. Bank One, was about the fraudulent activities of employee Kenneth Wulf. Wulf executed an embezzlement scheme using counterfeit checks deposited into an account held at Bank One. The Auto-Owners Insurance Co. v. Bank One case creates a platform to understand the law of contracts within the confines of the Uniform Commercial Code UCC. UCC is a comprehensive set of standardized laws in the US that govern commercial transactions and legal engagements such as contracts. The Uniform Business Code (UCC), created by the American Law Institute (ALI) and the National Conference of Commissioners on Uniform State Rules (NCCUSL), strives to integrate and streamline business rules through a range of states in the US. Examining this case within the framework of the UCC provides insights into pivotal aspects such as the burden of proof, the potential influence of electronic banking, and measures for preventing internal fraud.
Burden of Proof
The central issue in Auto-Owners' lawsuit against Bank One was determining the burden of proof regarding ordinary care in the 

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