Berra made out and signed a promissory note payable to the order of Streb. Streb placed a blank indorsement on the note and gave it to Harder. Harder in turn transferred the note by delivery alone ( no indorsement) to Bell. Does Bell become a holder?
Answer to relevant QuestionsTaylor owed Citizen’s National Bank over $ 40,000 and wrote three promissory notes payable to the bank at 15 percent interest ( on each note). Because the notes were past due, the bank increased the rate of interest to 22 ...Martin made out a promissory note payable for $ 5,000 and issued the note to Pask. Pask transferred the note to Grimes, who became an HIDC because he purchased it in good faith, not knowing of any defects in the instrument. ...What is the significance of being an ordinary holder as compared to an HIDC? Randolph received a check drawn on Sagamore Bank by Michaels. It was dated May1. On December 23, Randolph appeared at the Sagamore Bank to cash Michaels’s check. If the Sagamore Bank refuses on the basis that the check was ...Stewart received a check as a payee drawn on the Citizens’ Bank. The bank refused to pay the check even though there were sufficient funds in the drawer’s account. Stewart sued the bank on the check. Is Stewart entitled ...
Post your question