Fact Pattern 27-1B (Questions B6-B7 Apply)

Multiple Choice

Fact Pattern 27-1B (Questions B6-B7 apply)
Charlton is the maker of a $200,000 promissory note payable to Development & Sales Corporation. Development & Sales indorses the note to Equity Lenders, which in turn indorses it to First Select Investors, which then in?dorses it to Global Bank, the present holder.
-Refer to Fact Pattern 27-1B. Suppose that First Select pays Global Bank on the note. With timely notice to the proper parties, First Select may then collect payment on the note from

A) Charlton, Development & Sales, or Equity Lenders.
B) Charlton or Development & Sales only.
C) Equity Lenders only.
D) no one.