Jenna Signs a Promissory Note to Pay $1,000 to Adam

question 61

Essay

Jenna signs a promissory note to pay $1,000 to Adam.Adam cleverly raises the note to $10,000 and negotiates the note to Ned.Ned indorses the note and negotiates it to Mark.When Mark presents the note to Jenna,how much does she need to pay? Can Mark collect any sum of the money from Ned? If yes,how much?

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