Fact Pattern 27-1B (Questions B6-B7 Apply)

question 2

Multiple Choice

Fact Pattern 27-1B (Questions B6-B7 apply)
Charlton is the maker of a $200,000 promissory note payable to Development & Sales Corporation. Development & Sales indorses the note to Equity Lenders, which in turn indorses it to First Select Investors, which then in?dorses it to Global Bank, the present holder.
-Refer to Fact Pattern 27-1B. Global Bank properly pre?sents the note to Charlton for pay?ment, but he dishonors it. With timely notice to the proper parties, Global Bank may collect payment on the note from

• A) Development & Sales, Equity Lenders, or First Select.
• B) Development & Sales or Equity Lenders only.
• C) First Select only.
• D) no one.

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Definitions:

Research Participants

Participants in research studies who provide data by sharing their reactions or actions.

Conscious Awareness

Pertains to the state of being aware of one's thoughts, feelings, and environment in the present moment.

Automatic Behavior

Actions performed with little to no conscious thought, often due to habits or innate reflexes.

Compulsive Craving

An uncontrollable and intense desire for a particular substance or experience, often associated with addiction.