Harold borrows $20,000 from Alex and signs a note promising to pay Alex this amount plus interest in one year. Alex negotiates the note to Reese, an HDC. Before the note is due, Harold declares bankruptcy. According to the discharge in bankruptcy defense, which of the following is true?
A) Reese can recover from Harold.
B) Reese can recover from Alex.
C) Alex can recover from Harold.
D) Reese cannot enforce the instrument.
Correct Answer:
Verified
Q59: What are forged negotiable instruments?
Q60: Which of the following is a characteristic
Q61: What is the defense of fraud in
Q62: Fraud in the inducement is a personal
Q63: The defense of breach of contract is
Q65: Which of the following is a rule
Q66: The FTC rules apply to consumer credit
Q67: Discharge of an instrument by payment or
Q68: Which of the following actions by a
Q69: _ is a type of personal defense
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents