Pennsylvania  |  Business Law

Legal Question

Asked on: 10/17/13, 6:56 pm

Carla sells Chad a stereo system and accepts a promissory note from Chad as payment. The note is due in six months and contains an agreement to pay Carla $2,500 at maturity. Carla, knowing that the stereo system is a piece of junk and that Chad will refuse to pay, sells the note to Earl for $10. May Earl be a holder in due process? Why or why not?

Yes this is class assignment I had 50 questions and only 3 I had a problem with the answers. I do thank you this is my last one

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