If,instead of Demanding Payment on the Note,Tonya Returns the Note

question 27

Multiple Choice

If,instead of demanding payment on the note,Tonya returns the note to Felicia without marking it in any way,is Felicia still liable on the note?

• A)No,because the note became void once it was reacquired by Felicia.
• B)No,since Tonya surrendered the note to Felicia,Felicia is no longer liable on the note.
• C)Yes,because Felicia must mutilate the note to show that Felicia is discharged from liability.
• D)Yes,she is primarily liable on the note,but the other endorsers were discharged.
• E)Yes,because she has not been discharged.

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