Fact Pattern 26-1B

Multiple Choice

Fact Pattern 26-1B
Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lou who, in turn, indorses it to Mona, who then in?dorses it to Nat, the present holder.
-Refer to Fact Pattern 26-1B. Suppose that Mona pays Nat on the note. With timely notice to the proper parties, Mona may collect payment on the note from

A) Jake, Kim, or Lou.
B) Jake or Kim only.
C) Lou only.
D) no one.