Which of the Following Is True Regarding Henry's Entitlement to Payment

question 46

Multiple Choice

Which of the following is true regarding Henry's entitlement to payment from Millie?

• A) Henry is only entitled to payment from Millie because Anne dishonored the payment.
• B) Henry is not entitled to payment from Millie unless Bob, in addition to Anne, dishonors the instrument.
• C) Henry is never entitled payment from Millie because he must seek recovery only from Anne.
• D) Henry is entitled to recover on the note from Millie.
• E) Henry is entitled to recover on the note from Millie only if both Anne and Bob have filed bankruptcy or are otherwise proven insolvent.

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