Coppersmith Executed and Delivered Negotiable Notes to the Payee, Charlene

question 31

Essay

Coppersmith executed and delivered negotiable notes to the payee, Charlene. The payee indorsed the notes to Whitehurst but did not deliver them. Instead, she kept the notes in her possession because she wanted to collect the interest during her life and wanted the indorsee to have the notes on her death. After Charlene's death, her executor, Cartwright, found the notes. Both Cartwright and Whitehurst sought to enforce the notes against Coppersmith. Who was entitled to do so?

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Definitions:

World Price

World Price is the international market price of a good or service, determined by global supply and demand forces.

Domestic Supply

The total quantity of a product or service produced within a country and available for domestic consumption or sale.

Domestic Demand

The total demand for goods and services within a country's borders, not including exports or imports.

Import Quota

A government-imposed limit on the quantity of a certain type of good that can be imported into a country, aimed at protecting domestic industries and workers.