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Tammy Purchases a Promissory Note That Has Numbers Scratched Out

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Essay

Tammy purchases a promissory note that has numbers scratched out and rewritten.What legal problem will Tammy encounter in claiming to be a holder in due course of the note?


Definitions:

Compounded

The process of calculating interest on both the initial principal and the accumulated interest from previous periods.

Semi-annually

Occurring twice a year or every six months.

Compounded

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, leading to an increase in interest earnings over time.

Quarterly

Pertaining to a period of three months or occurring every three months.

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