Juana Prez makes a Promising Note on behalf of Ral Medina. Ral Medina signs the note without recourse, Ral Medina, and transfers the value to

Juana Pérez makes a Promising Note on behalf of Raúl Medina. Raúl Medina signs the note "without recourse, Raúl Medina", and transfers the value to Cathy Charles. Cathy, in need of money, negotiates the note to Dan Delta by signing it "Pay Dan Delta, Cathy Charles". On the due date, Dan presents the note to Joan, only to find that Joan has filed for bankruptcy and that she will have all of her debts (including the note) dismissed from her.

Can Dan hold Juana, Raúl, and/or Cathy responsible for the note?

Discuss the requirements of the Uniform Commercial Code (UCC), the Unification of the Bill of Exchange Law (ULB), and the Bill of Exchange Law (BEA).