Harold Borrows $20, 000 from Alex and Signs a Note

question 45

Multiple Choice

Harold borrows $20, 000 from Alex and signs a note promising to pay Alex this amount plus interest in one year.Alex negotiates the note to Reese, an HDC.Before the note is due, Harold declares bankruptcy and the court finds it to be true.According to the discharge in bankruptcy defense, which of the following is true?

• A)Reese can recover from Harold.
• B)Reese can recover from Alex.
• C)Alex can recover from Harold.
• D)Reese cannot enforce the instrument.

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