Question
Giga Byte sold a computer using fraudulent means to Wilson, who paid for the machine with a promissory note for $1,500. When Wilson discovered the
Giga Byte sold a computer using fraudulent means to Wilson, who paid for the machine with a promissory note for $1,500. When Wilson discovered the fraud, he refused to honor the note when it was presented for payment by a subsequent holder in due course. Wilson claimed fraud as a defense. Will Wilson succeed in avoiding payment to a holder in due course? Why?
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International Corporate Finance
Authors: Mark R. Eaker, Frank J. Fabozzi, Dwight Grant
1st Edition
0030693063, 9780030693069
