Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Austin makes out a negotiable promissory notes payable to the order of Anthony. Anthony indorses the note by writing on it Without recourse, Anthony and

Austin makes out a negotiable promissory notes payable to the order of Anthony. Anthony indorses the note by writing on it Without recourse, Anthony and transfers the note for value to Dawson. Dawson, in need of cash, negotiates the note to Ronnie by indorsing it with the words Pay to Ronnie, Dawson. On the due date, Ronnie presents the note to Austin for payment, only to learn that Austin has filed for bankruptcy and will have all debts (including the note) discharged. Can Ronnie hold Austin, Anthony, or Dawson liable for the note? Explain your answer! Must be 115 words or more.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cryptocurrency And Public Policy

Authors: Donavon Johnson

1st Edition

1032311231, 978-1032311234

More Books

Students also viewed these Finance questions

Question

Explain strong and weak atoms with examples.

Answered: 1 week ago

Question

Explain the alkaline nature of aqueous solution of making soda.

Answered: 1 week ago

Question

Comment on the pH value of lattice solutions of salts.

Answered: 1 week ago