Dandy Furniture Store borrows $100,000 at 6 percent interest from Easy Loan Company and signs a promissory note for that amount. Easy changes the amount of the note to $120,000 and increases the rate to 8 per?cent. Easy materially altered the note when it changed

Question

Quizplus · Accepted Answer

Easy materially altered the note by changing both the amount and the interest rate, which are significant terms of the promissory note.

Dandy Furniture Store Borrows $100,000 at 6 Percent Interest from Easy