Question
Mike signed and delivered a note for $9,000 to Paul Payee in exchange for Paul's tractor. Paul transferred the note to Hilda, who promised to
Mike signed and delivered a note for $9,000 to Paul Payee in exchange for Paul's tractor.
Paul transferred the note to Hilda, who promised to pay $7,500 for it.
After Hilda had paid Paul $5,000 of the promised $7,500, Hilda learned that Mike had a defense: the tractor was defective.
How much, if anything, can Hilda collect from Mike on the note? andy why?
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Equity And Trusts Text Cases And Materials
Authors: Paul S. Davies, Graham Virgo
3rd Edition
0198821832, 978-0198821830
