On August 10, 2016, Theta Electronic Laboratories, Inc., executed a promissory note to George and Marguerite Thomson.
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On August 10, 2016, Theta Electronic Laboratories, Inc., executed a promissory note to George and Marguerite Thomson.
Six other individuals, Gerald Exten, Emil O’Neil, James Hane, and their wives also indorsed the note. The Thomsons then transferred the note to Hane on November 26, 2018. Although a default occurred at this time, it was not until April 2019 that Hane gave notice of the dishonor and made a demand for payment on the Extens as indorsers. Are the Extens liable under their indorser’s liability? Explain.
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Essentials Of Business Law And The Legal Environment
ISBN: 9781337555180
13th Edition
Authors: Richard A Mann, Barry S Roberts
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