Case Study Discussion Questions
- In light of the entire transaction as it was outlined to them by Wisconsin, did First Midwestern provide the correct advice to their customer on how to structure the transactions? Did they appear to be fully diligent? (5marks)
- What risks were faced by Wisconsin when they undertook to accept the guarantee and to ship the goods under it? (5 marks)
- Given the underlying characteristics of this transaction and the country involved, should First Midwestern Bank have been involved in the transaction and ultimately purchased the drafts? (5 marks)
- What recourse or courses of action are available to First Midwestern to recover payment for the drafts? (5 marks)
- Given that First Midwestern sold the underlying drafts and all the associated risk, which party is responsible for challenging the injunction and undertaking negotiations to secure payment? (5 marks)
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