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

question 10

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. Suppose that First Select pays Global Bank on the note. With timely notice to the proper parties, First Select may then collect payment on the note from

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

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Definitions:

Endocrine Stimulation

The activation or increase of hormonal activity by the endocrine glands in the body.

Nervous Stimulation

A process involving the activation or excitation of nerve cells or the nervous system, leading to a physiological response.

Specific Receptor

A specialized cell or molecule that recognizes and binds to a particular ligand, such as a neurotransmitter or hormone, to initiate a cellular response.

Endocrine Glands

Endocrine glands are ductless glands in the body that secrete hormones directly into the blood circulation, affecting the function of distant target organs.