Question: CASE B Facts: Mr. A prepared a promissory note pavable to the order of Mr. B and issued the same to the latter. B properly

 CASE B Facts: Mr. A prepared a promissory note pavable to

CASE B Facts: Mr. A prepared a promissory note pavable to the order of Mr. B and issued the same to the latter. B properly negotiated the same to C. C misplaced the note. D found the note and forged the signature of the C. D endorsed the note to E. E endorsed the note to F, the current holder in due course. . Answer the following: 1. Who is/are liable primarily on the note? Explain. (2 sentences) 2. Who is/are liable secondarily on the note? Explain. (2 sentences)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!