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Ella Induces Tammy, by Fraud in the Inducement, to Make

question 40

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Ella induces Tammy, by fraud in the inducement, to make an instrument payable to the order of Ella. She subsequently negotiates the instrument to Adam, a holder in due course. If Ella later reacquires the instrument from Adam, Ella will succeed to Adam's rights as a holder in due course under the shelter rule.


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