Multiple Choice
Opalina asks Paolo,who does not understand English,to sign what Opalina says is an application to open a bank account.In fact,the "application" is a note.If sued on the note by an HDC
A) Paolo must pay the note.
B) Paolo's best defense would be fraud in the execution.
C) Paolo's best defense would be fraud in the inducement.
D) Paolo's best defense would be mistake.
Correct Answer:

Verified
Correct Answer:
Verified
Q26: Signature liability is contingent liability.
Q27: Personal defenses are used to avoid payment
Q28: Bing signs a note payable to the
Q29: A drawer's liability does not arise until
Q30: Chris convinces Dion,who does not understand English,to
Q32: Ethel signs a note "payable to the
Q33: Warranty liability is subject to the conditions
Q35: Dale issues a check for $4,000,dated June
Q36: An authorized agent is never personally liable
Q65: Transfer of an order instrument by indorsement