Multiple Choice
Jerry Hall makes out a note for $100 in such a way that someone could alter it to read $100,000.Someone alters the note and negotiates it to Pete Mason,who can qualify as a holder in due course.Which of the following statements is true for this situation?
A) Jerry shall share the loss with the bank where she holds an account.
B) Jerry does not have to pay Pete who currently possesses the note.
C) Pete can collect $10,000 from the person who "raised" the note.
D) Pete can collect $10,000 from Jerry.
Correct Answer:
Verified
Correct Answer:
Verified
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