Question
Zenda bought a car from Kali Car Dealer for $21,000, paying $500 in cash and giving a promissory note for $20,500. Kali sells the promissory
Zenda bought a car from Kali Car Dealer for $21,000, paying $500 in cash and giving a promissory note for $20,500. Kali sells the promissory note to Dresdan Investments for $15,000 cash and endorses it to Dresdan as follows: "Pay to the order of Dresdan, without recourse. Signed, Kali Car Dealer." Kali informs Zenda that the note has been negotiated to Dresdan and Zenda makes 2 payments totaling $600 to Dresdan. Dresdan then sells the note to Marta. After 2 more payments Zenda loses her job and makes no more payments on the note. Dresdan sued Kali and Zenda.
Regarding the statements above:
(FIRST QUESTION)What is theoverall/valueissue raised in the scenario?
a.What law applies?
b.None.
c.Did Zenda pay off the note?
d.Who, if anyone owes Dresdan money?
e.Did Zenda give Kali a promissory note?
(SECOND QUESTION) What is the factual issue raised in the scenario?
a. what law applies?
b. none.
c. did zenda pay off the note?
d. who , if anyone owes dresdan money?
e. did zenda give kali a promissory note?
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