Fact Pattern 18-2
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 18-2.Suppose that Mona pays Nat on the note.With timely notice to the proper parties,Mona may collect payment on the note from

Question

Quizplus · Accepted Answer

Mona, as an indorser who paid the note, can seek reimbursement from any prior indorsers or the maker, which includes Jake, Kim, or Lou.

Fact Pattern 18-2 Jake Is the Maker of a $2,000 Promissory Note Payable