Betty Issues a Note Payable to the Order of John

question 29

Multiple Choice

Betty issues a note payable to the order of John for $2,000.John properly indorses the note,but raises the amount to $20,000,and negotiates it to Mary.On the due date,Mary attempts to collect $20,000 from Betty.Betty refuses to pay.Assuming that Mary is a holder in due course,which parties can Mary recover from in a lawsuit?

• A) $20,000 from Betty; nothing from anyone else
• B) $2,000 from Betty; nothing from anyone else
• C) $2,000 from Betty; $18,000 from John
• D) $20,000 from John; nothing from anyone else
• E) nothing from anyone

---

Definitions:

Cross-Functional Teams

Groups composed of members from different departments or areas of expertise working together towards a common goal, often used in business for project development.

Purchasing Manager

This individual is responsible for sourcing goods and services for an organization, including negotiating prices and contracts with suppliers.

Purchasing Committee

A group of professionals within an organization responsible for making buying decisions.

Buying Center

A group of individuals within an organization responsible for making purchasing decisions and evaluating products or services.