Adams, who reads with difficulty, arranged to borrow $2,000 from Bell. Bell prepared a note, which Adams

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Adams, who reads with difficulty, arranged to borrow $2,000 from Bell. Bell prepared a note, which Adams read laboriously. As Adams was about to sign it, Bell diverted Adams's attention and substituted the following paper, which was identical to the note Adams had read except that the amounts were different:
On June 1, 2017, I promise to pay Ben Bell or order Twelve Thousand Dollars with interest from date at 16 percent. This note is secured by certificate No. 13 for 100 shares of stock of Brookside Mills, Inc.
Adams did not detect the substitution, signed as maker, handed the note and stock certificate to Bell, and received from Bell $2,000. Bell indorsed and sold the paper to Fore, a holder in due course, who paid him $11,000. Fore presented the note at maturity to Adams, who refused to pay. What are Fore's rights, if any, against Adams?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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Smith and Robersons Business Law

ISBN: 978-1337094757

17th edition

Authors: Richard A. Mann, Barry S. Roberts

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