Does tiller have right to collect on the note from martin

Assignment Help Management Theories

Reference no: EM131472930

Question: Martin made out a promissory note payable for $5,000 and issued the note to Pask. Pask transferred the note to Grimes, who became a holder in due course because he purchased it in good faith not knowing of any defects in the instrument. When the instrument became due, Grimes, without an explanation, refused to pay. Grimes, instead of representing the note to Martin again for payment, then decided to sell the note which was now overdue to Tiller at a discount price simply because Grimes needed the money. Tiller, because of the discount price, still purchased the note knowing it was overdue. Tiller then demanded payment from Martin, who now claimed fraud in the inducement on the part of Pask. Does Tiller have the right to collect on the note from Martin, the maker, even though Martin claimed fraud?

Reference no: EM131472930

Questions Cloud

Three kinds of molded fiberglass recreational boat : The Skimmer Boat Company manufactures three kinds of molded fiberglass recreational boat a bass fishing boat, a ski boat, and a speedboat.

Function of the stock price at expiration : Draw a payoff diagram showing the amount you owe at expiration as a function of the stock price at expiration.

Could the nephew collect the amount of note from sagamore : Sagamore borrowed $200 from Copp, to whom she gave a promissory note due and payable on January 15. One week before the note was due, Sagamore met Copp.

Cost of common from retained earnings : The interest rate on new debt is 6.50%, the yield on the preferred is 4.75%, the cost of common from retained earnings is 13.10%.

Does tiller have right to collect on the note from martin : Martin made out a promissory note payable for $5,000 and issued the note to Pask. Pask transferred the note to Grimes, who became a holder in due course.

Investor break even on the purchase : At what stock price will the investor break even on the purchase of the call? (Round your answer to 2 decimal places.)

Makes semiannual interest payments : If you require an 12.50% yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

Did beulah humphrey have primary liability on the loan : Carl and Beulah Humphrey signed as maker and comaker of a note for a line of credit of $50,000 from the Grand Island Production Credit Association to purchase.

Why leaders need emotional intelligence to manage workforce : Suggest two to three reasons why leaders' need emotional intelligence to manage today's workforce. Explore the elements of emotional intelligence.

User Account

All Pages