Use the following facts to answer the next three questions : Melissa and Hannah are business partners. They want to buy a small office building for $200,000, and they intend to borrow the funds. At Lender's insistence, their respective parents (Mark and Ruth, John and Abigail) also execute the negotiable promissory note. Melissa and Hannah sign their names at the end of the text of the note, and Mark, Ruth, John, and Abigail sign their respective names on the back of the last page of the note. Which of the following statements is true? (A) Melissa and Hannah are accommodated parties, and Mark, Ruth, John, and Abigail are accommodation parties. (B) Each of the six individuals is a co-maker. (C) Mark, Ruth, John, and Abigail are anomalous indorsers, but they are not sureties. (D) Mark, Ruth, John, and Abigail are not entitled to notice of dishonor as a condition to any signature liability. 8. Which of the following statements is true? (A) If Melissa pays the note, she has a right of reimbursement from Hannah and a right of contribution from Abigail. (B) If Mark pays the note, he has a right of reimbursement from Melissa and a right of contribution from John. (C) If Hannah pays the note, she has a right of contribution from Melissa and a right of , reimbursement from Ruth. (D) If Ruth pays the note, she has a right of reimbursement from John and a right of contribution from Hannah. Assume that Ruth pays $60,000 when the note comes due. The $140,000 balance remains unpaid, and Lender does not intend to forgive that piece of the debt. Which of the following statements is true? (A) Ruth has a reimbursement claim against Melissa for $60,000, and a contribution claim against Abigail for $15,000. (B) Ruth has a contribution claim against Hannah for $30,000. (C) Ruth has a reimbursement claim against Hannah for $60,000, and a contribution claim against John for $10,000. (D) Ruth has a reimbursement claim against Abigail for $60,000, and a contribution claim against Hannah for $50,000. Use the following facts to answer the next three questions : Melissa and Hannah are business partners. They want to buy a small office building for $200,000, and they intend to borrow the funds. At Lender's insistence, their respective parents (Mark and Ruth, John and Abigail) also execute the negotiable promissory note. Melissa and Hannah sign their names at the end of the text of the note, and Mark, Ruth, John, and Abigail sign their respective names on the back of the last page of the note. Which of the following statements is true? (A) Melissa and Hannah are accommodated parties, and Mark, Ruth, John, and Abigail are accommodation parties. (B) Each of the six individuals is a co-maker. (C) Mark, Ruth, John, and Abigail are anomalous indorsers, but they are not sureties. (D) Mark, Ruth, John, and Abigail are not entitled to notice of dishonor as a condition to any signature liability. 8. Which of the following statements is true? (A) If Melissa pays the note, she has a right of reimbursement from Hannah and a right of contribution from Abigail. (B) If Mark pays the note, he has a right of reimbursement from Melissa and a right of contribution from John. (C) If Hannah pays the note, she has a right of contribution from Melissa and a right of , reimbursement from Ruth. (D) If Ruth pays the note, she has a right of reimbursement from John and a right of contribution from Hannah. Assume that Ruth pays $60,000 when the note comes due. The $140,000 balance remains unpaid, and Lender does not intend to forgive that piece of the debt. Which of the following statements is true? (A) Ruth has a reimbursement claim against Melissa for $60,000, and a contribution claim against Abigail for $15,000. (B) Ruth has a contribution claim against Hannah for $30,000. (C) Ruth has a reimbursement claim against Hannah for $60,000, and a contribution claim against John for $10,000. (D) Ruth has a reimbursement claim against Abigail for $60,000, and a contribution claim against Hannah for $50,000
