business lae

1. Brightday Builders bought lumber from Lana’s Lumberyard.  Brightday issued a check to Lana’s for $27,000.  The Lumberyard received the check on a Tuesday.  That night Brennan broke into the Lumberyard’s offices and stole cash and checks from Lana’s desk.  Brennan cashed Brightside's check at Money Matters, a check cashing agency, and received $24,300 after paying the agency’s fee of $2,700.  Lana informed Brightday, who then told its bank, Hometown Bank, about the burglary.  Money Matters demands payment of the check by Hometown Bank.  Hometown refuses to pay.  What rights does Money Matters have against Hometown Bank, Lana’s Lumberyard, and Brightday Builders? 

2. Serena received a check drawn on the Trust Company of Florida.  She endorsed the check and received payment from another bank which sent the check for collection to the Trust Company of Florida and received payment.  One week later, the Trust Company of Florida discovered that the drawer of the check did not have an account with it.  Apparently, Trust Company had mistaken the signature on the check for the signature of one of its customers with a similar name.  The Trust Company of Florida then sought to recover the amount paid on the check from Serena.  Will it recover?  Does Serena have any defense?