Question
Use the scenario above and properly cited research from your textbook and elsewhere to support your conclusions and give detailed, thorough answers to the following
Use the scenario above and properly cited research from your textbook and elsewhere to support your conclusions and give detailed, thorough answers to the following questions.
2. Responding to consumer complaints that Power Up! has too many calories, QRI decides to market Power Up in a new smaller 10oz size, made by its can supplier CanMan Industries. QRI doesn't currently have the funds to buy the initial order of 100,000 cans from CanMan Industries so QRI executes a promissory note to CanMan promising to pay CanMan $10,000, with 6% interest payable after QRI sells its 50,000th 10oz can of Power Up! CanMan then transfers the note to its aluminum supplier AluStar Industries, in order to secure a new shipment of the coils of aluminum CanMan uses to make aluminum cans. AluStar demands payment of the promissory note by QRI. QRI refuses to pay on the note. Does the promissory note qualify as a negotiable instrument? Why or why not? Does QRI have to pay AluStar on the note? What potential argument would QRI put forth as to why it does not have to pay on the note and what potential argument would AluStar put forth as to why QRI does have to pay on the note?
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