Molly signs a promissory note payable to Nano Credit Corporation while mentally incompetent but before a court judges her to be mentally incompetent.The note is

Question

Quizplus · Accepted Answer

The promissory note is voidable because Molly was mentally incompetent when she signed it. However, it was signed before a court judged her to be mentally incompetent, so it is not automatically void. The note is not payable to any bearer, holder, or court, but rather to Nano Credit Corporation as specified in the note.

Molly Signs a Promissory Note Payable to Nano Credit Corporation