On January 6, Hughes learned that Miles claimed a breach of warranty by Proctor and, for this
Question:
On January 6, Hughes learned that Miles claimed a breach of warranty by Proctor and, for this reason, intended to refuse to pay the note when it matured.
On January 10, Hughes paid Proctor $200, in conformity with their agreement of January 3.
Following Miles’s refusal to pay the note on March 2, 2019, Hughes sues Miles for $1,000. Is Hughes a holder in due course? If so, for what amount?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Essentials Of Business Law And The Legal Environment
ISBN: 9781337555180
13th Edition
Authors: Richard A Mann, Barry S Roberts
Question Posted: