Lewis makes a note payable to MaxiFinance Corporation. MaxiFinance indorses the back of the note and negotiates it to Notes & Drafts Investments, Inc. Primarily liable on the note is
A) none of the choices.
B) MaxiFinance.
C) Notes & Drafts Investments.
D) Lewis.

Question

Quizplus · Accepted Answer

Lewis, as the maker of the note, is primarily liable for its payment. The indorsers, such as MaxiFinance, are secondarily liable.

Lewis Makes a Note Payable to MaxiFinance Corporation