Business Law

Negotiable Instruments

Moore

issues a negotiable promissory note payable to the order of Parish for the amount of $3,000. Parish

raises the amount to $13,000 and negotiates it to Holton for $12,000.

(a) If Holton is a holder in due course, how much can she recover from Moore?

How much from

Parish?

If Moore’s negligence substantially contributed to the making of the alteration, how much can

Holton recover from Moore and Parish respectively?

(b) If Holton is not a holder in due course, how much can she recover from Moore?

How much from

Parish?

If Moore’s negligence substantitally contributed to the making of the alteration, how much can

Holton recover from Moore and Parish, respectively?