Klaus forges Lot's name as the maker of a note "payable to Klaus." Klaus indorses the note in blank, sells it to Mort, and disappears. Without indorsement, Mort sells the note to Nora, who, also without indorsement, sells the note to Obie. On discovery of the forgery, most likely liable to Obie is
A)none of the choices.
B)Lot.
C)Mort.
D)Nora.

Question

Quizplus · Accepted Answer

The Answer of Klaus forges Lot's name as the maker of a note "payable to Klaus." Klaus indorses the note in blank, sells it to Mort, and disappears. Without indorsement, Mort sells the note to Nora, who, also without indorsement, sells the note to Obie. On discovery of the forgery, most likely liable to Obie is
A)none of the choices.
B)Lot.
C)Mort.
D)Nora.

Klaus Forges Lot's Name as the Maker of a Note