Fact Pattern 17-1 Chuck Is the Maker of a $200,000 Promissory Note Payable

question 37

Multiple Choice

Fact Pattern 17-1
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 17-1.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.

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