Which of the Following Was the Result in Michael J

question 82

Multiple Choice

Which of the following was the result in Michael J. Kane, Jr. v. Grace Kroll, the case in the text in which the defendant issued a check to the plaintiff to cover the plaintiff's sale of cows to the defendant's son, but later stopped payment on the check because her son said he could not repay her?

• A) The plaintiff was not allowed to recover because the stop payment order prevented the plaintiff from being a holder in due course.
• B) The plaintiff was not allowed to recover because, although he was a holder in due course, the stop payment order negated his entitlement to payment.
• C) The plaintiff was not allowed to recover because the defendant established a lack of consideration to her.
• D) The plaintiff was allowed to recover on a contract theory although he was not a holder in due course.
• E) The plaintiff was allowed to recover because he was a holder in due course.

---

Definitions:

Maturity Date

The final payment date of a loan or other financial instrument, at which point the principal (and all remaining interest) is due to be paid.

Compound Annual

The rate of return that would be required for an investment to grow from its beginning balance to its ending one, assuming the profits were reinvested at the end of each period of the investment's lifespan.

Rate of Return

The profit or deficit experienced on an investment during a particular timeframe, represented as a proportion of the investment's initial expense.

Templeton Growth Fund

A mutual fund that aims for long-term capital growth by investing primarily in the equity of companies around the world.