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Question
Ted gave Stanly a $300 negotiable note for repairs to his car. Stanly did not do the repairs but indorsed the note to Nami who did not know of Stanley's lack of work and paid Stanly for its note. Nami gave the note to her daughter, Sopan, for Christmas and Sopan attempted to collect the note. What is Sopan's legal status?
A. Sopan is not a holder in due course but has the rights of a holder in due course.
B. Sopan is not a holder in due course and has no rights of a holder in due course.
C. Sopan is not a holder in due course but does qualify as a holder in gift status.
D. Sopan has no rights since she did not give consideration.
Answer
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Related questions
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