Multiple Choice
Zoron Company purchased a truck from Ace Motors.The sales personnel at Ace know that Anton Green is an executive at Zoron.To pay for the truck, Anton delivered a $26,000 note to Ace and signed it "Anton Green, Agent." In this case:
A) as long as Ace Motors remains holder of the note, Zoron Company is liable for payment.
B) if ABC bank becomes a holder in due course of the note and Zoron Company does not pay, the bank has no recourse against Anton.
C) since "Zoron Company" does not appear on the note, only Anton is liable to Ace for payment of the note.
D) the signature of the maker is incomplete. Neither Zoron nor Anton is liable on the note.
Correct Answer:

Verified
Correct Answer:
Verified
Q8: A drawee bank's refusal to certify a
Q18: An unauthorized signature may bind a principal
Q30: The drawer is obligated to pay the
Q47: An accommodation maker is not liable on
Q49: Mark gives a bearer note for $50
Q53: Zelda signs a promissory note for $2,500
Q55: Notice of dishonor of an instrument must
Q58: By indorsing a check, "Without recourse," Pat
Q58: Sarah has a checking account at First
Q71: Parties with secondary liability unconditionally promise to