Multiple Choice
Betty issues a note payable to the order of John for $2,000.John properly indorses the note,but raises the amount to $20,000,and negotiates it to Mary.On the due date,Mary attempts to collect $20,000 from Betty.Betty refuses to pay.Assuming that Mary is a holder in due course,which parties can Mary recover from in a lawsuit?
A) $20,000 from Betty, but nothing from anyone else
B) $2,000 form Betty, but nothing from anyone else
C) $2,000 from Betty, and $18,000 from John
D) $20,000 from John, but nothing from anyone else
E) nothing from anyone
Correct Answer:

Verified
Correct Answer:
Verified
Q101: Which kind(s)of liability can be imposed only
Q102: ABC Corporation,a large corporation,calls Joe's Plumbing Service
Q103: In terms of the requirements for becoming
Q104: Under the Uniform Commercial Code,value has been
Q105: Where an indorsement on an instrument has
Q107: Even though an unperformed promise qualifies as
Q108: Which of the following is not required
Q109: A holder who does not qualify as
Q110: One with notice of dishonor of an
Q111: An accommodation party who signs an instrument