Fact Pattern 16-2
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 16-2.Nat properly presents the note to Jake for payment,but Jake dishonors it.With timely notice to the proper parties,Nat may collect payment on the note from

Question

Fact Pattern 16-2 
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 16-2.Nat properly presents the note to Jake for payment,but Jake dishonors it.With timely notice to the proper parties,Nat may collect payment on the note from

Quizplus · Accepted Answer

Under the rules of negotiation, when a negotiable instrument is dishonored, the holder may seek payment from any prior endorsers (Kim, Lou, or Mona in this case) as long as timely notice of dishonor is given. Therefore, Nat can collect payment from any one or all of them.