Assuming That Rohan Admits the Modification but It Is Not

question 17

Multiple Choice

Assuming that Rohan admits the modification but it is not considered fraudulent,which of the following is true regarding Taylor's liability on the note?

• A)Taylor is liable for $3,000 regardless of whether or not Rohan has negotiated the note to another party.
• B)Taylor's obligation will be enforced only to the amount of $3,000 if payment is to be made to Rohan;but in the event the note is negotiated to another holder,Taylor is liable for $3,500.
• C)Taylor's obligation will be enforced only to the amount of $3,000 if payment is to be made to Rohan;but in the event the note is negotiated to a holder in due course,Taylor is liable for $3,500.
• D)Because of the alteration,Taylor is not liable for any amounts under the promissory note.
• E)Unless Taylor has a written document from Rohan to the effect that the agreement was for $3,000 only,Taylor and Rohan will be legally required to split the remainder with Taylor being held responsible for $3,250.

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Definitions:

Octet

The state of an atom achieved when it has a full valence shell of eight electrons, making it stable and less reactive.

Methyl Chloride

A colorless, flammable gas used as a refrigerant, solvent, and in organic synthesis.

Lewis Structure

A representation that illustrates valence electrons as dot pairs or dashes around atoms within a molecule, highlighting the bond formations between atoms.

Bromine

A chemical element with the symbol Br and atomic number 35, known for its reddish-brown color and halogen properties.