Lance indorses a promissory note to Connie in exchange for consideration.Unknown to Lance,the note is not good because the maker's signature was forged.Connie later attempts to present the instrument for payment to the original alleged maker,Lilly,who is able to deny liability for payment due to the forged signature.Connie may later sue Lance for breach of a transfer warranty.

Question

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Lance made a transfer warranty by indorsing the promissory note, and Connie can sue him for breach of this warranty as the maker's signature was forged, and the instrument was not enforceable.

Lance Indorses a Promissory Note to Connie in Exchange for Consideration.Unknown