Multiple Choice
Lisa buys a used car from Kelly.She pays 10 percent down of the cost and signs a negotiable promissory note, promising to pay Kelly the remainder of the purchase price, with interest, in 12 equal monthly installments.At the time of sale, Kelly materially misrepresented the mileage of the automobile.Later, Kelly negotiates the note to Frances, who has no notice of the misrepresentation.Frances, an HDC, negotiates the note to Zoe, who is not an HDC.Which of the following is Zoe in regards to the indorsement?
A) a holder in due course
B) a holder
C) an assignee
D) an assignor
Correct Answer:
Verified
Correct Answer:
Verified
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