Fact Pattern 27-1 Chuck Is the Maker of a $200,000 Promissory Note Payable

question 13

Multiple Choice

Fact Pattern 27-1
Chuck is the maker of a $200,000 promissory note payable to Investors Corporation. Investors indorses the note to Equity Lenders, which in turn indorses it to Select Holdings LLC, which then indorses it to Global Bank, the present holder.
-Refer to Fact Pattern 27-1. Suppose that Select Holdings pays Global Bank on the note. With timely notice to the proper parties, Select Holdings may then collect payment on the note from​

• A) ​Chuck, Investors, or Equity Lenders.
• B) ​Chuck or Investors only.
• C) ​Equity Lenders only.
• D) ​no one.

---

Definitions:

Biological Rhythms

Innate, cyclical patterns in biological processes and behaviors observed in living organisms, including circadian rhythms and seasonal cycles.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.

Conditioned Response

A conditioned response is a learned reaction or response to a previously neutral stimulus that has become significant through association.

Unconditioned Response

An automatic, natural response to a stimulus that does not require previous conditioning or learning.